Word: capitalisme
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Chomsky's comments on Watergate are among the most incisive so far written. But he understates what Watergate can teach us about Nixon, or, for that matter, about liberal writers. A close examination of Watergate shows that fascism is not merely Nixon's response to crisis; fascism is apparently the...
* Liberal writers have an ideology--and a political and economic system behind it--to protect. Since 1936, liberals have defended the growth of capitalism by assuring dissidents that the system was learning to correct social abuses.
For example, Franklin Roosevelt is remembered as a liberal reformer. But the consequences of his programs were unquestionably conservative. Resorting first to welfare programs and industrial self-regulation, then to government regulation and finally to war, Roosevelt tried everything short of socialism to preserve U.S. capitalism intact. His rhetoric, meanwhile...
The Depression of the thirties posed the gravest American economic and political crisis since the Civil War. It threatened not only the corporate giants which had grown since the end of World War I--the future of all capitalism, including its political and cultural institutions, looked dismal.
These, when added to the always-smoldering social unrest under capitalism, are the ingredients of Nixon's economic and political crisis. Nixon also faces the continuing threat of war to the structure of multinational capitalist expansion and additional domestic anti-business sentiment as a consequence of galloping inflation.