supercession of the british empire
Cold War onset
in canada, in an informal colloqial way we discuss the usa as an empire. it does run its reach much diﬀerently then
previous empires though. there aren't necessarily oﬃcial magistrates and such running the various political spaces
that fall under american hegemony, for example.
the us had built up its productive capacity during the war. after the war everyone was devestated but them. but
there were no markets big enough to purchase what they could produce.
the crisis of overproductio▯
some interpret the wars as driven by this. then after the war ends it blows up even more in a diﬀerent way:
we are talking about a process whereby MONEY is converted into POWER and POWER is converted into
- there are many ways capitalism connects these things together
- nowadays, the two require one another! in days of old, to enhance your power was to acquire more land and
territory with people on them that you can squeeze for their products and for more soldiers.
- but as more and more connect their lives through trade rather than war, capitalism is born. it is braudel's opinion
that these two projects (trade) turning money into more money and (war) turning power into more power, connect
up and capitalism is born—money into power, power into money.
it makes more sense to talk about a mode of production as a mode of reproduction
- the way in which any and all human existence can happen is through social organization
THERE IS A DOUBLE MEDIATION so that how we access nature is organized through how we navigate our
sociality, and yet we couldnt' have kind of political or cultural or social organizations if our belonging together
wasn't mediated by our relation to nature.
- classic chicken egg
- it is a dialectic
- this is what a mode of social re-production implies
CAPITALISM IS ONE PARTICULAR FORM OF DOUBLE-MEDIATION
the thing about the crisis of overproductio▯, in order to convert money into more money, you must purchase all the
inputs: labour power, resources, means of production, then you need to sell the ﬁnal product for more than you
paid to create the product.
THIS IS MARX'S GREATESTTHEORY PERHAPS:
he theorized CRISIS TENDENCIES in Capitalism. the more it succeeds, the more problems it creates for itself.
mookerjea explication of crisis of overproduction
after waves of diﬀerent manifestations, the Second World War ends and the crisis is pitched over the edge agai▯ in
a bigger way than every before.
lets consider the diﬀerence between gifts and commodities...
what makes gifts diﬀerent? treasurable?
the meaning of the gift means the relationship that it embodies beyond its use-value, the sentiment and
signiﬁcance invested in it. it represents that social relationship.
if we then think about a commodity, this is something produced to be sold in a market. there is nothing on the
object itself that tells you anything about how this object relates me to all the other people that were involved in
its coming to be in my hands. the fact that i consume this commodity relates me to a lot of people, but those
relationships are entirely anonymous. there is no way this commodity can evoke or mean those relationships in any
way directly. this is one of the reason why, in order to get people to consume thigns, you have to make them into
meaningful objects via advertising, endorsement, marketing, etc. the desire for that object must be produced
before the object itself is produced. you must turn wants into needs and then satisfy the needs to make money.
tea time ad - constructs meaning using situational social relations to mark the symbolic importance of consuming tea in these moments.
FORDIST / KEYNESIAN CAPITALISM
- demand side capitalism
- the overproduction crisis needs to be solved by generating demand
- there should be a whole range of govt policies that on a massive scale turn producers into consumers. the
production of aggregate demand. convince people to buy regardless of whether they need it or not.
- key: extension of credit to more and more people. it used to be that unless you were a serious owner of land or
capital, you couldn't walk into a bank and get a loan for anything...
- after the depression there is a change in the way banks are regulated
- ie Freddie Mac and freddie may
- this made it possible for public and private ba