[Marxism] Thoughts on 8 Theses

[S. Artesian]

Unfortunately, the closest thing we have to a measure of value is prices, 
prices historically adjusted, prices exchange rate adjusted, but prices all 
the same so, yep, that's what I'm using.

As for the city/countryside schema-- no, there is no balance of trade; 
cities do not export the commodities they produce with the raw materials to 
the sources or origin of the raw materials.  The cities may not export 
anything to do those areas, but rather to other cities, or to its own 
domestic market in the cities.  Again, there is no necessity for balance in 
the reproduction of capital.

And of course the cities can hope to import more value from the countryside 
than they export to the countryside forever--- they've been doing it pretty 
much forever-- it's part of the uneven and combined development of 
capitalism right in the heart of its most developed areas.

Little is produced in the imperialist centers?  Really?  Number 1 exporter 
in the world of capital goods is Germany.  Capital goods.  US had the 
highest rate of export increase in the period 2004, 2005, 2006-- in capital 
goods.  Does the US import these goods from China, Japan, and re-export 
them-- not hardly.  The US is actually an export and then re-import economy 
for its domestic market-- 40%-50% of its imports "related party" imports--  
imports from wholly and majority owned foreign subsidiaries.  That's what we 
would expect from the most developed capitalism, with a greater social 
productivity of its labor force-- which is exactly what the US has.

China is the import and re-export economy-- importing components, 
reassembling them and shipping them back-- not the US, not Germany.

As for the Chinese holding's of US debt instruments-- these are not 
government reserves, unless the government decides to seize them.   These 
are dollar instruments held on deposit for various clients, not the least of 
which are multinational corporations.  That China has such vast quantities 
of reserves as an index to its inability to create a domestic market.

Keep in mind that none of the $587 billion Chinese stimulus plan involves 
liquidation of the the US debt instruments.    China's economic power over 
the US is zero-- just like Japan's was zero despite its accumulated dollar 
reserves.

Anyway, good discussion.  Snowing like hell here in NYC.



----- Original Message ----- 
From: "D OC" <donaloc at hotmail.com>
To: <sartesian at earthlink.net>
Sent: Monday, March 02, 2009 10:48 AM
Subject: Re: [Marxism] Thoughts on 8 Theses