Good Morning Friends,





The point I was trying to drive home last time was simply that New Money always wants to become Old Money, as we have already defined these terms, just as quickly as possible. This drive is invariable, universal, worldwide, and historical. There comes a point when the bourgeoisie seems to just get tired - for a variety of good reasons - of the struggle of overseeing production, and capitalism lapses or triggers what we have called "virtual" or "disaster" capitalism. As I have tried to indicate, this is so wherever we look, at whatever nation, in any time period.





I would compare this drive to the old caricature we used to hear about concerning the young woman, fiercely independent, flying under the banner of feminism, charge into the paid workforce - only long enough to land a husband, preferably a wealthy one, the boss would be good, so that even the work of mother and homemaker could at least be partially displaced unto nannies and other live-in help.



That is how the industrial capitalists are. There comes a point when it becomes too hard for them to achieve the profits that they and their shareholders need and want, when they run up against the natural limits of political, material, social, and economic limits of capital expansion. And when this happens, they resort virtual and disaster methods (created by them or merely harnessed) to get around those barriers and keep profits up; and they also aspire to the lordly aristocratic class, from which they see themselves as having "fallen" from.



Capitalism is see by the bourgeoisie, therefore as a transitional system at best, and as a prison or lower realm at worst. I claim, therefore, that crisis in capitalism is caused by a mass attempt of the New Money bourgeoisie to escape capitalism, at least the "free market" capitalism that is professed in the west. These mass prison escape attempts - and successes - are as destabilizing to an economic system, as much as mass inmate escape attempts, on a regular basis, are destabilizing to a prison.



Their primary means of achieving this escape or transitioning from New Money to Old Money, is the various techniques of financialization and brand-focus and speculation on financial derivatives, as opposed to investment linked to actual production. Man is the desire to become God, which is why New Money Bourgeoisie always wants to become Old Money Bourgeoisie.

We'll take a different tack next time.

wingedcentaur