Showing posts with label JM. Show all posts
Showing posts with label JM. Show all posts

Wednesday, December 31, 2025

Beware the bogey-men (1986)

From the December 1986 issue of the Socialist Standard

There was a time when hard-pressed parents sought to control their high-spirited children by threatening that, if they were not "good" (willing to conform to parental convenience). the bogey-man would get them. The owners of newspapers use the same device to frighten their readers into conformity with ruling class ideas and. on occasion, to create a willingness to die in their defence.

The earliest bogey-man the writer can remember was the "Hun" — the subject of fear and hatred during the first World War. This was the name given to the Germans of that time in spite of the fact that the Huns last swept across Europe from Central Asia in the 4th and 5th centuries. However. "Hun" was a convenient alternative to "German" since the British Royal Family were related to Germans.

Then, with the Russian revolution of 1917, a new bogey-man appeared on the horizon. He was known as a "Bolshy" and, although this was an abbreviation of "Bolshevik", meaning "one of those forming a majority", this in no way detracted from the horror with which people were persuaded to regard him. This bogey-man was unique in having an alternative name: "Red", which was on occasion applied to members of the Labour Party as well as supporters of the Communist Party.

But then, when Hitler disappointed the British ruling class by deciding to invade the West instead of the East, the "Nazi" became the biggest bogey-man of all. "Nazi" was an abbreviation of Nationalsozialist — meaning National Socialist — and workers should bear this in mind when others lay claim to being socialist when they represent just another form of capitalism.

However the bogey-man of the 1980s is certainly a "Marxist" — often a "hard-line Marxist", whatever that means. Now. presumably a Marxist is one who agrees with the main economic and political ideas of Karl Marx. So it might be as well for those members of the working class who might be frightened by this latest bogey-man to find out exactly what his ideas were.

Marx maintained that in an advanced capitalist country the population was divided into two main social classes whose interests were diametrically opposed: the capitalist class and the working class. He pointed to the fact that, because the capitalist class owned the means of production of wealth (the land, factories, railways and so on) the working class was dependent on selling to the capitalists their only asset, their ability to work, in order to live. In this process he explained the exploitation of labour, the inevitable poverty of a majority of the working class — and the origin of profit:
The fact that half a day 's labour is necessary to keep the labourer alive during 24 hours, does not in any way prevent him from working the whole day. Therefore, the value of labour power and the value which that labour power creates in the labour process, are two entirely different magnitudes and this difference of the two values was what the capitalist had in view when he was purchasing labour power.
(Capital Part III Chapter VII)
Marx also held that the only solution to the poverty of the working class was for them to make the means of production of wealth the common property of all mankind:
When therefore capital is converted into common property, into the property of all members of society, personal property is not thereby transferred into social property.
(Communist Manifesto)
In the above statement he was also answering those critics who asked what would become of personal belongings. The result however of the change from private ownership of capital to common ownership would, Marx pointed out. mean the cessation of buying and selling since this can only occur if wealth is privately owned:
But if selling and buying disappears, free selling and buying (free trade) disappears also. This talk about free selling and buying and all the other brave words of our bourgeoisie [. . .] have no meaning when opposed to the communistic abolition of buying and selling
(Communist Manifesto)
It would also mean the end of the wages system by which workers were exploited:
Instead of the conservative motto: "a fair day s wages for a fair day's work" they [the working class] ought to inscribe on their banner the revolutionary watchword: abolition of the wages system.
(Value, Price and Profit) 
Finally, he maintained that the establishment of this form of society must be achieved democratically by the working class itself:
We have seen above, that the first step in the revolution by the working class is to raise the proletariat to the position of ruling class, to win the battle of democracy.
(Communist Manifesto)
and
Thus socialism was. in 1847. a middle-class movement, communism a working-class movement. [. . .] And as our notion, from the very beginning, was that the emancipation of the working class must be the act of the working class itself, there could be no doubt as to which of the two names we must take.
(Preface to the Communist Manifesto)
So what can we conclude from the above quotations? Firstly that members of the working class — and in this group we include those who think of their wages as "salaries" — should have nothing to fear from this latest in a long line of "bogey-men": the Marxist. The true Marxist brings the key to the emancipation of all people from poverty and conflict.

Secondly the above quotations should enable us to distinguish the true Marxist from the many who assume, or are given, this title Reading back over the quotations, we can ask whether the self-styled "Marxist" explains the economics of capitalist exploitation, believes that the means of wealth production should be the common property of all. explains that this means the abolition of buying and selling and the end of the wages system — and whether the revolutionary change from capitalism to socialism (or communism) must be the democratic act of a majority of the working class.

Or does the "Marxist" represent an élite who claim they can lead the working class — offering reforms on the way — to a form of society in which they see themselves as the new ruling class? If so. here is your true bogeyman.
John Moore

Saturday, September 27, 2008

We are all socialists now

From the Marx and Coca Cola blog
A long time ago Milton Friedman asked Richard Nixon why he never took his economic advice to which Tricky Dick replied "We are all Keynesians now". Less than ten years later Ronald Reagan would declare "Government is not the solution to our problem. Government is the problem.", and we were all Reaganomists now. At least until last week.
What makes this economic downturn different from the other recessions post-1980 is not so much the size, but the reaction of the powers that be. While Treasury Secretary Lex Luther wanted a 700 billion dollar blank check that "may not be reviewed by any court of law or any administrative agency." (a plan referred to as an economic PATRIOT ACT), the usually spineless Democrats have actually said no. They have plans of their own. The most likely of these to pass is Chris Dodd's (D-CT) which would cap CEO pay, include foreclosure relief, and give the government a share in the profits the bailed out firms. Peter DeFazio (D-OR) is floating an idea to put a tax on stock transactions. Getting a lot of ink on the Internet is Debbsian socialist Bernie Sanders' (I-VT) four point plan which includes a wealth surtax, increased regulation, increased social spending, and busting up the big financial firms. None of this is really socialism, but everything's been laissez-faire so long it looks like the Paris Commune in comparison. While this kind of faux-populism is to be expected during an election year crisis other less than expected critics are questioning the status quo.
From a Yahoo article entitled Many economists skeptical of bailout comes this quote from University of Chicago professor Luigi Zingales:
"For somebody like me who believes strongly in the free market system, the most serious risk of the current situation is that the interest of a few financiers will undermine the fundamental workings of the capitalist system. The time has come to save capitalism from the capitalists."
A capitalism without capitalists if you will. Eric D. Hovde, the CEO of Hovde Capital and Hovde Acquisitions, writing in an op-ed praises government regulation, and decries Wall Street's influence on government. Actually most of the op-ed is a concise and well written history of this mess that blames everyone who deserves it. For example:
"In an attempt to protect his legacy after the Internet-bubble collapse, [former Fed chairmen Alan] Greenspan provided unprecedented stimulus to re-inflate the economy and maintain his popularity with Wall Street. (Remember the "Greenspan put"?) But in doing so, he spawned the largest debt and asset bubble in U.S. history."
In case you couldn't tell Greenspan was a close personal friend of Ayn Rand. In putting the blame where it's due Hovde also gives what I think is the definition of capitalism:
And in my view, there's no need to look beyond Wall Street -- and the halls of power in Washington. The former has created the nightmare by chasing obscene profits, and the latter have allowed it to spread by not practicing the oversight that is the federal government's responsibility.
What was the great fraud of Reaganomics was the belief that the government and the free market are two totally different and opposing forces. The government was either well intentioned (or evil) but incompetent, and only interfered with the perfect, all wise free market. The events of the last week have shown that's to be bullshit. There is no such thing as a "free" market. During the good times the state is there to put a veneer of respectability on fraud and extortion. During the bad times it's the knife that cuts off a finger to save the hand, but it is always capitalism's co-conspirator. This current down turn will lead to the state taking a greater role in the economy, and we might even get some increase in social spending (a la the New Deal). Capitalism will be saved from itself, and inevitably when the economy gets better and we've all forgotten (remember the Glass-Steagall Act? Me neither) these reforms will be repealed; we'll be right back here. The bad times is also when we should push for a real change that scraps capitalism and it's good buddy: the state, not just make them nicer.
JM