The 7 Contradictions of the Occupy Movement

[cybercoma]

Capitalism has had interest rate adjustments and stimulus. Capitalism has always relied on the state in order to exist.

Not always. The Bank of Canada didn't exist until the late 30s. Before that the banks were largely independent of one another and could create their own currency outside of the state's control. The state-guided economy largely came out as a response to the misery of the Depression.

[Michael Hardner]

Not always. The Bank of Canada didn't exist until the late 30s. Before that the banks were largely independent of one another and could create their own currency outside of the state's control. The state-guided economy largely came out as a response to the misery of the Depression.

Capitalism uses the state as it uses anything - as a vehicle to make profit. If the state is calling for high taxes, then they will be against the state. If the state is guarding assets at no cost, then they will be for it.

[Huston]

Not always. The Bank of Canada didn't exist until the late 30s. Before that the banks were largely independent of one another and could create their own currency outside of the state's control. The state-guided economy largely came out as a response to the misery of the Depression.

How far does your history go? State-guided economy came about as a response to the 1930s? Yet we have the Napolean III urban renewal of Paris in the 1800s. We have Rome expanding trade routes through the use of a military war machine, the United States is very much like Rome in this regard. The Axial Age (800-200 BC) showed the appearance of coinage (dug out with slave labour) to use in markets in order to serve the military states of the time.

The State guided economy is as old as Egypt and Sumer.

[cybercoma]

I thought we were talking about Canada here and following the Depression was when the state took responsibility for economic depressions and recessions through social assistance programs (OAS, EI, healthcare, etc). What you're talking about with merchant fleets is different than people holding the state responsible for the economic cycle.

Edited June 19, 2012 by cybercoma