Obviously a brain-dead take but maybe they tried to express the shift from manufacturing to finance and service in the western world while lacking the vocabulary to express it? Though this shift doesn’t make dialectical analysis and the framework around ist invalid.
This factory relations still exist at the root of the system, they’re just in the third world and China/India now. The whole finance and service system is built on the margins afforded by profit extraction there. The second that dries up, the whole façade collapses and at best those labor relations return to the financialized core, at worst we just experience famine and continued gradual collapse of infrastructure
If only someone had written a book explaining how the industrial mode of production had inherent contradictions that were going to make bank capital merge with industrial capital to unleash itself and cross international borders.
Obviously a brain-dead take but maybe they tried to express the shift from manufacturing to finance and service in the western world while lacking the vocabulary to express it? Though this shift doesn’t make dialectical analysis and the framework around ist invalid.
This factory relations still exist at the root of the system, they’re just in the third world and China/India now. The whole finance and service system is built on the margins afforded by profit extraction there. The second that dries up, the whole façade collapses and at best those labor relations return to the financialized core, at worst we just experience famine and continued gradual collapse of infrastructure
If only someone had written a book explaining how the industrial mode of production had inherent contradictions that were going to make bank capital merge with industrial capital to unleash itself and cross international borders.