YDS: The Clare Spark Blog

October 10, 2011

Populist catharsis on Wall Street

Jeffrey Sachs, Columbia U. professor

The Occupy Wall Street movement has the support of Old Leftists (Stalinists, Trotskyists), populists, tenured professors steeped in Keynesian economics, Big Labor, and an assortment of young people worried about their student loans and the lack of job opportunities. Some pundits on Fox News have been interpreting this protest movement as a product of disillusion with Obama, and a movement to his Left. My view is that it is a calculated event and part of his campaign for re-election, and perhaps even managed and instigated out of the White House, expressing Obama’s own Leninism as reinterpreted by Keynesian economics and a long-lived “soak the rich” philosophy that is directed against imputed Jewish control of everything: As “the money power” [the obscenely bloated Jew] controls banks, hedge funds, the media, advertising, and plants computer chips in our brain so that the ‘Jewish’ mask is not penetrated by ‘Jewry’s’ victims and sets them against their parents.  I.e, Through the control of “public opinion” the money power perpetuates its oligarchical, illegitimate control, and celebrates “corporate greed.”

No one should see OWS as anything resembling a leftist revolt, and those [New Leftists] who are crowing over it should hang their heads in shame, for they have sold out, possibly in the expectation that they would be rewarded with advancement in the new Obama dispensation.

This is how 19th century Marxists (not Leninists) operated in the past; unlike OWS, they were generally analytical, focused, disciplined, and had a goal in sight:

1. They identified a revolutionary agency—the new working class that, in their analysis, would be increasingly immiserated and would stop production in a general strike and take over the reins of power, this time abolishing classes altogether and, with a more just distribution of resources, would institute communism: “from each according to his ability, to each according to his need.” It was vague, but Marx at least saw the bourgeoisie as a progressive class that had created and developed  the productive forces that would enable capitalism’s transcendence into a society of abundance and the defeat of needless toil.

2. Along with this optimistic prophecy, at any particular stage of struggle, the Marxists asked themselves, “given the correlation of forces, what is the task of our generation?”  This required constant study of every institution; also focus on the likely allies to revolutionary struggle. Marx himself predicted that parts of the bourgeoisie would break off and join the working class. Crucially, one didn’t expect “the streets” to be the site of structural transformation. There had to be a ripened situation, such as a crisis of capitalism. So it seemed in the Great Depression, and hence hordes of intellectuals, workers, and small businessmen joined the Left or the Popular Front with its antifascist agenda. (Some even stayed there after the Nazi-Soviet Pact in 1939, and their children often remained tied to some form of Leftism, no matter how attenuated .)

3. The romantic part of Marxism is this: there could be no preconceived plan for the just society—a plan that we could all look at. There were no Federalist Papers or copies of a proposed Constitution for the working-class revolution.  Rather, it would evolve organically out of revolutionary struggle and the leadership of the “conscious” working class. It could not take place in a technologically backward society (here is the point of divergence from Leninism and Maoism or Third Worldism).

Surely, only a half-educated demagogue such as Keith Olbermann or a “progressive” neo-Keynesian college professor such as Jeffrey Sachs would see the present situation as ripe for revolution, in a series of demonstrations populated by frightened, undereducated youth and opportunistic labor unions or diehard Stalinists. Is there socialism ahead? I doubt it. Maybe fascist dictatorship given the populist rage and Jew-hatred that is cropping out even as I write this, and not only in the U.S.

I am not a Marxist myself, but one who appreciates the wealth-creating potential of free markets and limited government. The Republican Party should do a better job in explaining supply-side economics and defending those aspects of conservation and environmentalism that are grounded in sound science and medicine. And responsible historians and journalists should remind the public that Hitler’s base consisted of right-wing populists*: the petit-bourgeoisie, including small producers (peasants and artisans), unemployed and unorganized workers, civil servants, and everyone who profited from the expropriation of “Jewish” property and “Jewish” jobs. It is a canard of the Marxist-Leninist Left** that fascism is the triumph of finance capital and big business, though, to be sure, elements of those groups (in addition to monarchists or the army, including the Freikorps) served in coalition with Hitler until he kicked out such officials as von Neurath and Schacht, 1936-38.

*I am not forgetting the left-wing populism of the Strasser brothers. But that militant anti-bourgeois wing of the Party was decimated in the Night of the Long Knives.

** Lenin was influenced by the populist antisemite J. A. Hobson, see https://clarespark.com/2009/09/18/bad-sex-in-the-new-york-times/.  How many students today can describe the debate between Rosa Luxemburg and Lenin or Stalin about imperialism and backward societies?

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