Regarding the Euro launch: 1) The main endangered species with this
monetary union is the European worker. This process will first result
in cutting the level of benefits and allowing down-sizing with more
impunity. I think the European worker is the front line; their response
will set the agenda for mankind. 2) The second endangered species is
all the world who is not white--the rise of neo-facist groups in Germany
and their tolerance in France, etc., shows the possiblity of a facist
and racist solution to recession and economic turmoil among European
heritage people, if a demagogic campaign is successfully waged among
them. 3) On a clearer note, I think the struggle for economic
prosperity will be turning around market share, and around advanced
products. Europe is not a major growth area for the U.S. in this
matter, with the exception of the former USSR countries. The market
battle will lay out there (East), and should be affected by the greater
capacity of the Euro (over individual Euro. countries). The last great
frontier is Africa, which Europe seems to have a resounding lead with,
and which explains the frenzy with which U.S. business is seeking to
partner with South Africa.
I think the question for both Europe and the U.S. in the coming phase
of economic competition is which will achieve INTERNAL UNITY most
effectively and fastest: destabilization due to unemployment and
political turmoil would leave either vulnerable to second rate power
status. For the U.S., this involves solving its race questions--both
black and hispanic, esp. if it is to have any chance of effectively
integrating the Americas. For the Europeans, exclusionary violence
against non-Europeans may be effective if they can create the
infrastructure of exploitation effectively in Eastern Europe and former
USSR--these could provide the surplus labor needed for cost
effectiveness. (This would allow the ugly European core-beliefs of
supremacy another showing on the world-stage--if those beliefs are in
the grave, we need to re-visit the grave regularly and make sure).
Returning to the issue of market share, profits are made in the
advanced product sector, this sector is sensitive to "fashion" or
subjective criteria, so creativity and chance play a role, and above all
ideology. Whoever can peddle the best ideology of what is "good" may
win (at least in the short-run--10 years or so)--and Americanism and
free-markets have peaked, thus it appears the U.S. is looking at a
downslide. But the U.S. has a masterful world ideology machine, from
education to movies, so I don't see it falling out of the running.
Regarding cheap labor and united nation-state, the U.S. access to Latin
Amer. is a fall-back for any labor problems in Asia, and the U.S.
Pacific is better positioned for Asia than Euro territory. So I think
the Euro unity will be somewhat tied down for now with its challenge to
solve (1) its needs for a cheap labor force (anywhere) and (2)
acceptance by workers in Europe of the dismal dog-eat-dog existence that
the U.S. has been weaned on. So I don't think the Euro is set to rock
the U.S. economy, ending in political crisis here.
Cynthia Hewitt
Daniel M Green wrote:
>
> Resolved: The Euro will mark a watershed in the eclipse of the American
> economy, reducing the USA to the status of just another large economy and
> causing a major political crisis in this country within the next 4-5
> years.
>
> Daniel Green
> University of Delaware
>
> On Sun, 3 May 1998, Judi Kessler wrote:
>
> > ...Here comes the "euro" - Now is the opportunity to generate some great
> > 1998, down-to-earth, concrete, political-economy discussion.
> > For those of you who are still bound up in counting capitalism's years (or
> > centuries), use some restraint and back off. Same goes for those of you
> > who are tempted to argue ad nauseum which "long cycle" (circa "the first
> > appearance of homo homo sapien") is been responsible for the European
> > monetary union.
> > Come out, all you Euro WS people who follow events in THIS century.
> > Who am *I*? No one. Just a very informed doctoral student, bored to tears
> > with the WSN.
> >
> > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
> > Judi A. Kessler
> > University of California, Santa Barbara
> > Department of Sociology
> > Santa Barbara, California 93106
> > (805) 893-3751
> > fax (805) 893-3324
> >
> > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
> >