The United States ruling class finds itself in a world where it has given up on more sophisticated and subtle foreign policies at exactly the time that such sophistication and subtlety is required. Obama showed his ability at subtlety with the Iran nuclear deal which was a much better deal for the US than for Iran. He also showed it with the start of an opening up to Cuba that promised to undermine Cuban socialism through the steady extension of capitalism and the creation of an independent bourgeoisie within that country. He showed it again by limiting the US weapons being provided to Ukraine, and pulling his punches when Russia acted to defend Syria. He even managed to get NATO and the European countries to lead the Libya regime change operation. He hid his naked aggression behind the secretive drone program, boasting that he had become quite good at killing as he massively expanded the drone program and covert operations in general. He hid the imperialist fist within a velvet glove and behind his own ethnicity.
Jul 29, 2023·edited Jul 29, 2023Liked by Roger Boyd
Great article, Roger, thank you for sharing. A couple of random thoughts:
i) The 'China copies; US innovates' narrative seems intimately connected with the rejection of the Gramscian construction of what a materially grounded education looks like. Copying is a fundamental part of learning any new skill and by reducing the opportunities of your population to 'copy' (e.g. by relocating productive capacity abroad) you ultimately hamstring their capacity to innovate.
ii) I think Peter Turchin's analysis of the current / impending crisis is that the coming nadir is already 'baked-in' to the system. (I think he described this in a talk he gave at an Oxford institute; it might appear in End Times too, I cannot remember). The choices we (well, western elites at any rate) make now will be most relevant to the next crisis that comes in 50 - 60 years time. Given that revolutions tend to come 'from above' (at least the ones that don't end in massive slaughters...) it is unclear to me which part of any Western executive state are the 'adults in the room'.
Impressive article and worthwhile deep-read. One thing I'd add to the American "capitalist crisis" is to ban corporate stock-buybacks; it is this practice that most contributes to the lack of funds invested in corporate R&D -- many consider it to be the equivalent of eating one's own "seed stock".
So true, and a perfect tool for control fraud by corporate executives to boost the value of their stock options. When a buyback is done, the stock options are never rebased to take into account the drop in the number of shares, providing a windfall gain for the executives that is taxed at the lower capital gains rate (half that of income). Coming up to the 2020 crisis, corporations had spent all their rainy day funds on corporate buybacks and thats why they needed a massive bailout.
Ahh, the Trabant. It was a surprisingly good small car for 1959 in cash strapped East Germany. Roomy enough for 4 people - as opposed to a 3 wheeled BMW Isetta - and had a decent, large (for it's type) 500cc air cooled twin cylinder two stroke that was virtually unlikable. Plastic body panels that did not rust and could be swapped out and easily replaced if damaged. And even more importantly, it was fun to drive. It's handling - for it's type - is excellent. And so it was for about five-ten years, which is about as long as any vehicle design lasts. In 1990 however it was an anachronism and so far out of date it wasn't funny. I think your Trabant analogy for the US dilemma is very apt.
Ha ha, auto correct! It should read unkillable not unlikeable. With the barest maintenance it would run forever and could be repaired with on four common household tools.
Great article, Roger, thank you for sharing. A couple of random thoughts:
i) The 'China copies; US innovates' narrative seems intimately connected with the rejection of the Gramscian construction of what a materially grounded education looks like. Copying is a fundamental part of learning any new skill and by reducing the opportunities of your population to 'copy' (e.g. by relocating productive capacity abroad) you ultimately hamstring their capacity to innovate.
ii) I think Peter Turchin's analysis of the current / impending crisis is that the coming nadir is already 'baked-in' to the system. (I think he described this in a talk he gave at an Oxford institute; it might appear in End Times too, I cannot remember). The choices we (well, western elites at any rate) make now will be most relevant to the next crisis that comes in 50 - 60 years time. Given that revolutions tend to come 'from above' (at least the ones that don't end in massive slaughters...) it is unclear to me which part of any Western executive state are the 'adults in the room'.
Impressive article and worthwhile deep-read. One thing I'd add to the American "capitalist crisis" is to ban corporate stock-buybacks; it is this practice that most contributes to the lack of funds invested in corporate R&D -- many consider it to be the equivalent of eating one's own "seed stock".
So true, and a perfect tool for control fraud by corporate executives to boost the value of their stock options. When a buyback is done, the stock options are never rebased to take into account the drop in the number of shares, providing a windfall gain for the executives that is taxed at the lower capital gains rate (half that of income). Coming up to the 2020 crisis, corporations had spent all their rainy day funds on corporate buybacks and thats why they needed a massive bailout.
https://dkwautounionproject.blogspot.com/2017/07/trabant-east-german-peoples-car.html
Ahh, the Trabant. It was a surprisingly good small car for 1959 in cash strapped East Germany. Roomy enough for 4 people - as opposed to a 3 wheeled BMW Isetta - and had a decent, large (for it's type) 500cc air cooled twin cylinder two stroke that was virtually unlikable. Plastic body panels that did not rust and could be swapped out and easily replaced if damaged. And even more importantly, it was fun to drive. It's handling - for it's type - is excellent. And so it was for about five-ten years, which is about as long as any vehicle design lasts. In 1990 however it was an anachronism and so far out of date it wasn't funny. I think your Trabant analogy for the US dilemma is very apt.
The Aurus Senat always strikes me as an updated version of those Soviet ZIL limousines.
https://www.youtube.com/watch?v=G_SSGUjpOHE
Vladimir Putin owns a 1972 Zaz 968 Zaporozhets. Good taste in old Soviet cars
Almost all modern cars are grotesque style-less eyesores. This one no less so.
Ha ha, auto correct! It should read unkillable not unlikeable. With the barest maintenance it would run forever and could be repaired with on four common household tools.