OscailtThe deepening capitalist crisis: From blood and dirt to much worseIt was long ago stated that capitalism came into the world dripping in blood and dirt, from every pore, from head to toe. While it has demonstrated that it won’t simply collapse under its own weight, the recent goings-on around the current capitalist crisis have shown that with age it has become even more hideous. Capitalism is now rank with massive state intervention required to simply keep its rotting body moving: through states propping up the financial sector and deepening the colossal attack on the working class.
2015-09-14T03:52:41+08:00Anarkismoanarkismoeditors@lists.riseup.nethttp://www.anarkismo.net/atomfullposts?story_id=28502http://www.anarkismo.net/graphics/feedlogo.gifAn Excellent Analysishttp://www.anarkismo.net/article/28502#comment160092015-09-14T03:52:41+08:00Wayne PriceThis is an excellent article by Shawn Hattingh of South Africa. I have no critic...This is an excellent article by Shawn Hattingh of South Africa. I have no criticisms, but I would like to put it into a slightly wider context, if I may. What we are experiencing is the return of the symptoms of the epoch of capitalist decline and decay. These symptoms were obvious to all from World War I to II (including the Great Depression, the rise of fascism and Stalinism, etc.). But they were hidden by the post-WWII prosperity, stimulated by the war, arms spending, reorganization of world imperialism, defeats of the world working class, and looting the environment. These stimulants have reached their limits (about 1970) and the system is going downhill fast (even in its limited "recovery" from 2008). Besides the issues which Shawn mentions, there is the looming ecological calamity of global warming! <br />
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As Shawn writes, the system faces overproduction and over accumulation. But paradoxically (and dialectically) this is due to a basic underproduction--of surplus value. If the capitalists could produce more profitably, they would invest in the real economy, buy industrial goods, hire more workers who would buy more consumer goods, and therefore there would be no shortage of demand for profitable production. Because it cannot produce enough real profit (due to the falling rate of profit and the growth of monopoly) there is "overproduction" of commodities, and money is invested in financial speculation (what Marx referred to as "fictitious capital"). This also requires an attack on the world working class, and an inability to deal with the climate crisis. As Shawn knows.<br />
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Once again, a fine analysis of the world crisis.