I wonder if this discussion is not losing its way: is it being suggested that
inter-nation economic, monetary and banking relations - to my mind much more
primitive than intra-national systems, are to be taken as the paradigm for
grasping what is abstractly necessary to the reproduction of capitalism? If a
truly global capitalist economy is to develop, I would put my e-money on the
evolution of transactions-cost effective, and efficient forms of money 'object'
evolving in the inter-national sphere. No doubt this is a tricky political
problem for would-be world capital.
Put it another way, should world-capitalism develop, why should it have any more
interest in the survival of this or that nation state than national capitalisms
have in the survival of this or that region, this or that firm, or this or that
individual?
In international working-class solidarity,
Michael