This short, and in many brilliant piece, a Counterpunch article on Monetary Fascism, is imortant reading in one way, and discouraging in another: to expect that a return to Adam Smith is a solution to the diagnosis of Friedman-style Monetary Fascism is unrealistic. Surely it will never happen. If something goes from bad to worse, the solution is not to go from worse to bad. In fact, I suspect that all the snares of Monetary Fascism were already latent in the capitaism of the era of Adam Smith. Why else would a contingent of socialists/communists emerge, with Marx to try and codify their insigths?
Nonetheless, as we propose the gendanken experiment of The New Communism, it is clear that this ‘default’ will be resisited to the near bitter end by those who will try to get from worse to bad. That that is impossible will emerge, I hope not too late. So we should WITHOUT DELAY provoke old communists to tear up their notes and start over with The New Communism and otherwise induce chattering teeth in those who start thumbsucking the hope of getting form worse to bad.