The real of the financial crisis is real estate, according to Badiou:
if the current crisis proves anything it's that, although trickledown of wealth in a boom is an utterly discredited theory, there is nevertheless a cascading down of ill fortune in a downturn.
Owen has now weighed in on accelerationism. A few further thoughts of my own: part of the problem with Splitting Bone Ashes' argument as I see it is the assumption that the state inhibits acceleration. It would be better to say that the state is one for the conditions for capitalist acceleration. As the current crisis establishes, without the state, capitalism wouldn't reach escape velocity, it would disintegrate, more likely retrenching into what Andrew Kliman on the Marx And The Financial Crisis of 2008 blog calls "chaos or fascism or warlordism" than dissolving into some post-capitalist inhuman network. By inhibiting capitalism, the state enables it to go as fast as is (inhumanly) possible.Posted by mark at October 21, 2008 11:51 AM | TrackBack