{"id":6057,"date":"2015-02-27T06:56:33","date_gmt":"2015-02-27T11:56:33","guid":{"rendered":"http:\/\/olduvai.ca\/?p=6057"},"modified":"2015-02-27T06:56:33","modified_gmt":"2015-02-27T11:56:33","slug":"china-and-the-dragon-tail-of-marx","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=6057","title":{"rendered":"China and the Dragon Tail of Marx"},"content":{"rendered":"<h3><a href=\"http:\/\/www.oftwominds.com\/blogfeb15\/Marx-dragon2-15.html\" target=\"_blank\"><span class=\"Apple-style-span\"><i><b>China and the Dragon Tail of Marx<\/b><\/i><\/span><\/a><\/h3>\n<p><span class=\"Apple-style-span\"><i>The dragon tail of Marx&#8217;s end-game of overcapacity and finance capital is about to shred China&#8217;s fantasy that the state can micro-manage both capitalism and financialization with no contradictions or consequences.<\/i><\/span><\/p>\n<p><b>Longtime readers know my one expertise is annoying the entire ideological spectrum in 1,000 words or less.<\/b>\u00a0Today is one of those days, so strap on your blood pressure monitor and prepare for full-spectrum annoyance, regardless of your ideological leanings.<\/p>\n<p>&nbsp;<\/p>\n<p><b>Marxism is typically considered discredited outside of a few protected fiefdoms of academia<\/b>\u00a0which tend to engage in obscure debates over the labor theory of value and other signifiers of\u00a0<i>membership in the inner circle of deep Marxist thinkers<\/i>.<\/p>\n<p>Outside these cloistered academic circles, Marxism is dismissed for two basic reasons:<\/p>\n<p>1. the predicted final crisis and implosion of capitalism did not occur<\/p>\n<p>2. the vaguely outlined post-capitalist incarnation of a stateless worker&#8217;s paradise not only failed to materialize, but was used to justify destructive, murderous totalitarian regimes.<\/p>\n<p><b>But those egregious failures of Marxist theory should not blind us to the value of his critique of capitalism.<\/b>\u00a0After all, he was writing in the first stages of industrialization and global finance (late 19th century), and his failure to detail a\u00a0<i>scientific socialism<\/i>beyond capitalism can be chalked up to a mix of naive idealism and a paucity of theoretical models to build on.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>China and the Dragon Tail of Marx The dragon tail of Marx&#8217;s end-game of overcapacity and finance capital is about to shred China&#8217;s fantasy that the state can micro-manage both capitalism and financialization with no contradictions or consequences. Longtime readers know my one expertise is annoying the entire ideological spectrum in 1,000 words or less.\u00a0Today [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[111,130,3811,1573,3810,3500],"class_list":["post-6057","post","type-post","status-publish","format-standard","hentry","category-economics","tag-capitalism","tag-china","tag-finance-capital","tag-financialization","tag-marxism","tag-overcapacity"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6057"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6057\/revisions"}],"predecessor-version":[{"id":6058,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6057\/revisions\/6058"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}