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Submitted by Jason on Thu, 23/10/2008 - 09:48

A fairly measured response. Indeed your article in its recognition that the left is weak and that we need toreorganise in the working class and as socialists to some extent answers its own question in relation to Stuart from PR's musing that "that the current crisis should be compared not to 1929-1933, but to the Panic of 1907. That, he said, was certainly a severe slump, but within a "long wave" of capitalist upswing.
I doubt the comparison is very useful. Anyway, where does it lead? Take your pick. The "long wave" in process in 1907, on Stuart King's own account, ended in 1913; so is this credit crisis the harbinger of the end of the current "long wave"? Or is the main point that we can expect a recovery soon?"

I think the point is that we cannot be schematic about where the current crisis will lead- it may even be the harbinger of a more general coolalpse but this is probably not nealry as imminent as some of the catstrophists would have us believe. certainly for the working class to take power we need to reform working class organisations and fighting organisations almost from scratch- that is the task of this period.

This article unusually for one from the left at least has a degree of sobriety about the difficulties of the task ahead that we need to (as Harman apparently said) build "resistance, on however small a scale, to the economic repercussions on the working class of the crisis, while organising "a network of socialists".

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