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After Russia reverts to centrally planned and state driven economy, all of a sudden economic growth in Russia is beating the west. (www.telegraph.co.uk)

submitted 9 months ago by [email protected] to c/[email protected]

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[–] [email protected] 2 points 9 months ago (1 children)

I agree with this assessment. My point was that with a rational nationalist country like Russia their ultimate goal may be to defend the bourgeoisie, but they aren’t trying to make the war machine more profitable. The defense industry for a pre-imperialist country matters more if it is able to defend them than if it is going to be a staple of the economy. Meanwhile in China they dgaf about companies’ profits, they just want to improve people’s lives and so on. As long as they are involved in the world market this means making “win win” deals that do increase people’s profits. However, since that is not their goal, they’re willing to attack industrial capital if it’s not doing its job, like the real estate thing.

[–] [email protected] 1 points 9 months ago* (last edited 9 months ago) (1 children)

I think i generally agree with that take. One small correction though:

to attack industrial capital [...] like the real estate thing

I don't think real estate counts as industrial capital, from my understanding it falls under the FIRE (finance, insurance, real estate) category of parasitic capital.

[–] [email protected] 1 points 9 months ago

No, i mean the people building houses stupidly by taking out loans and paying them off with construction that would be delayed.