the following was forwarded to us and is a response to D. Hamerquist's, Capitalism in Crisis?
Generally Don's short note on crisis fits with things I am thinking about and incorporating into talks. There are some important details that could not be covered in such a short post. I argued in my book and generally in talks that the present period represents a new mode of accumulation as a response to the crisis that emerged in the mid seventies. I agree with Don's formulation of crisis as capitalist production reaching the limits of the law of value. I have outlined elements of this new mode elsewhere. One important thing of the mode of production is that it turned debt into a global commodity to the extent that it heightened the duality between use value and value for many of the commodities it was financing. This was seen most clearly in housing in the
One key thing about labor mobility being a possible social base for an internationalist perspective is that part of this new (since mid 1970's) mode of accumulation is that labor is not simply mobile but "flexibilized." Flexible labor means labor being "declassed" as they are reduced to individuals who can not only work anywhere but also be part timed, two or three tiered etc. This has necessitated an international attack on labor organization and an international ideological assault to individualize labor.This seems to me to be an important and critical area for struggle. So I think I am simply underlining what Don said about this.
With regard to the contradiction Don notes between the continuing need for a nation state and capital mobility there are some important issues regarding how this is being approached by capital that also point to important arenas for struggle. There are two interesting issues of NACLA Journal (September/October, 2008 and January/February 2007 in this regard. In the 2008 issue several articles point to how NAFTA broke the concept of social compact which had been the framework within which the left in