Nearly half the money — $143 billion — went to holding companies for the two major banks that failed over the past week, Silicon Valley Bank and Signature Bank, triggering widespread alarm in financial markets.
Sure, the only way Marx was able to be as insightful as he was, was because he totally immersed himself in all the economic data and theory available to him at the time. Things that could easily be called insignificant pedantic arguments, following your argument.
If we refuse to do the same and just stick our heads in the sand about these things, then we have no hope of changing the society we live in.
And about the old understandings part. While many things in Marx are still relevant, they are at best incomplete.
He also incorporated other ideas from the sciences of his time which many Marxists have categorically refused to do since Marxism became a primarily academic project, at least in the west.
Now to be fair, this has been changing, especially since 2008. But most people stick to old theory which, while it can still be insightful, is not up to the task of bringing about revolution as it currently stands.
Well yeah that was my point, I disagree. It's not so much about the policy itself that is insightful but what it can tell us about the system as a whole.
For example, this round of propping up the financial sector is turning out quite different than the last. Whether it ends up becoming a new thing to supplant neoliberalism or just a modification of it is yet to be seen.
The cause is also interesting, the end of QE and the rate hikes which were intentional. Not sure how much I believe it was to curb inflation but how they explain their actions can be insightful in its own way.
This also triggered a series of sovereign debt crises in the third world, like Sri Lanka and others.
But anyway my point is that what might seem like useless information in isolation can be very useful when looking at the system as a whole due to the integrated nature of the world financial system.
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Sure, the only way Marx was able to be as insightful as he was, was because he totally immersed himself in all the economic data and theory available to him at the time. Things that could easily be called insignificant pedantic arguments, following your argument. If we refuse to do the same and just stick our heads in the sand about these things, then we have no hope of changing the society we live in.
And about the old understandings part. While many things in Marx are still relevant, they are at best incomplete. He also incorporated other ideas from the sciences of his time which many Marxists have categorically refused to do since Marxism became a primarily academic project, at least in the west. Now to be fair, this has been changing, especially since 2008. But most people stick to old theory which, while it can still be insightful, is not up to the task of bringing about revolution as it currently stands.
deleted by creator
Well yeah that was my point, I disagree. It's not so much about the policy itself that is insightful but what it can tell us about the system as a whole.
For example, this round of propping up the financial sector is turning out quite different than the last. Whether it ends up becoming a new thing to supplant neoliberalism or just a modification of it is yet to be seen. The cause is also interesting, the end of QE and the rate hikes which were intentional. Not sure how much I believe it was to curb inflation but how they explain their actions can be insightful in its own way. This also triggered a series of sovereign debt crises in the third world, like Sri Lanka and others.
But anyway my point is that what might seem like useless information in isolation can be very useful when looking at the system as a whole due to the integrated nature of the world financial system.