Commentary on Political Economy

Wednesday 3 August 2011

The Merry Go-Round - Capitalism, Competition and Us

Apologies for the typos and the awry syntax below, friends, but I was trying to expose Professor Barro's "barrenness" of thought (and utter wasteland of heart) before the FT Editors wiped out (yet again) my commentary on his mephitic piece of garbage. (The y have already closed comments to Christopher Caldwell's insalubrious insidious dross and diverted David Pilling (who is paid by the Chinese Politburo) away from commenting on China and on to South East China - I do not know how much he got paid for his last piece of propaganda (check the FT for his abominable journalistic performance, if you like - we do not recommend it!).

As you can see from the WSJ article we linked below, capitalist nation-states are now thick into "competitive devaluations" (Japan chimed in this morning) with the US rightly leading the bunch because it is simply unacceptable that the most productive country have 10% unemployment whilst the bourgeois elites of China, Germany, Japan and Brasil and Korea and the likes (all recent dictatorships) enjoy high employment levels by exporting to an overvalued-currency country such as the US.

But you can see for yourselves where mythical "competition" leads: - to devaluations! And to competitive austerity and deflation with lower real wages and employment at each round of "belt-tightening". It is all in the "logic" of what we explain below in the short piece on "Absolute and Relative Eploitation".

To reward those of you who are more socio-theoretically inclined, we will post a piece on "Competition" from a chapter we are preparing for Krisis and then another one that is a brief excerpt from the Nietzsche-book (titled: Umwertung - Nietzsche's Transvaluation of All Values) that will be available next month. Buona giornata a tutti!

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