Sunday, September 21, 2008

is this Socialism?

in Cyburbia and the Legacy Media (Domestic and Foreign) use of the word Socialism has reached a new high point. as in the recent interventions by the USG and the Company Store represent a new 'Socialism', arrived in America, wrapped in a Barron's and carrying a financial calculator.

definition one of socialism:

1: any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods

the key phrase here is 'means of production'. I dislike wikipedia, but an excerpt from the article there wouldn't hurt:
Means of production (abbreviated MoP; German: Produktionsmittel), is a Marxist concept describing the combination of the means of labor and the subject of labor used by workers to make products.
Means of labor include machines, tools, plant and equipment, infrastructure, and so on: "all those things with the aid of which man acts upon the subject of labor, and transforms it." (Institute of Economics of the Academy of Sciences of the U.S.S.R., 1957, p xiii). Those means of production participate in the process of exploiting labor for surplus value.[1] Subject of labor is the material worked on.

pray tell me what Produktionsmitteln have been nationalised/socialised? none. these financial institutions that the authorities have been taking over are less than worthless, they don't have any (and I would argue never did) value in terms of what we call in political economy PRODUCTION.

the point of Socialism is to socialise things that are worth something.

what has started to occur is not a New Socialism. oh no. if only. what we have here is much more serious, and historical. what we are witnessing is the Death of (Central Bank) Capitalism.