Re: [OPE] Class Analysis of the Greek Bailout

From: Paul Cockshott <>
Date: Fri May 14 2010 - 10:39:14 EDT

The problem is the extra high rate of exploitation in Gemany which generates underconsumption there, and a symbolic surplus in the hands of the German capitalist class which has accumulated as claims against other states. There is no solution outside of
a) a higher level of real wages and consumption in the surplus nations
b) an EU wide system of redistributive taxation
From: [] On Behalf Of Adler Paul []
Sent: Thursday, May 13, 2010 3:56 PM
To: Outline on Political Economy mailing list
Subject: Re: [OPE] Class Analysis of the Greek Bailout

And looking back: what should we make of the idea -- the constant drumbeat of the bourgeois press -- that Greece as a whole country, including its workers, was "living beyond their means"?

On May 12, 2010, at 11:41 AM, GERALD LEVY wrote:

What classes from which countries are going to be paying
what amounts for the Greek bailout? How would one go
about quantifying the likely magnitude of the decline
in living standards of the Greek working class as a result of
the austerity plan? Which segments of the working class are
going to be hurt to a greater extent? How will the bailout
likely affect the 'middle classes', the petty commodity
producing sector, and the degree of centralization of capital
in Greece? How will this affect the penetration of large
units of capital based in other nations on Greece? How will
the working class in the rest of the EU be affected? How will
this affect the future of the EU itself? Given the current
balance of forces, to what extent will working class resistance
affect the outcomes of the bailout?

Any takers?

In solidarity, Jerry
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Prof. Paul S. Adler
Management and Organization Department
Marshall School of Business
University of Southern California

The University of Glasgow, charity number SC004401
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Received on Fri May 14 10:56:40 2010

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