Capitalism

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Capitalism Has Failed—What Next?

Capitalism Has Failed—What Next? Less than two decades into the twenty-first century, it is evident that capitalism has failed as a social system. The world is mired in economic stagnation, financialisation, and the most extreme inequality in human history, accompanied by mass unemployment and underemployment, precariousness, poverty, hunger, wasted output and lives, and what at…

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The Capitalist Workday, the Socialist Workday

The Capitalist Workday, the Socialist Workday   (Transcript of a talk given in Venezuela on May Day.) On May Day, there are four things that are worth remembering: For workers, May Day does not celebrate a state holiday or gifts from the state but commemorates the struggle of workers from below. The initial focus of…

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On May Day . . .

On May Day . . . “Let’s drink a toast to all those farmers, workers, artists and intellectuals of the last 100 years who without thought of fame and profit . . . worked tirelessly in their dream of a worldwide socialist revolution, who believed and hoped that a new world was dawning and that…

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Raghuram Rajan Says Capitalism is ‘Under Serious Threat’

Raghuram Rajan Says Capitalism is ‘Under Serious Threat’ Former RBI governor Raghuram Rajan on Tuesday warned that capitalism is under “serious threat” of a “revolt” as the economic and political system has stopped providing for the people, especially after the 2008 global financial meltdown.   Mr. Rajan, now a professor at the University of Chicago,…

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Gandhian Engagement with Capital

Gandhian Engagement with Capital These days, much is being written and spoken about Gandhi’s thoughts. However, I have a feeling that very little space is given to  his economic views. Recently, Chaitra Redkar, HoD, Political Science at SNDT University, Mumbai has contributed a wonderful book on this subject, Gandhian Engagement with Capital: Perspectives of J.C….

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The Means Exist to Break the Chains of Capitalism

The Means Exist to Break the Chains of Capitalism BirGün: We are in the 10th year of the crisis that started from the USA. How do you summarise the consequences of the crisis after ten years?   John Bellamy Foster: The Great Financial Crisis (or Global Financial Crisis) that began in the United States in…

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Neo-Liberalism and the Diffusion of Development

Neo-Liberalism and the Diffusion of Development The level of economic activity under capitalism is subject to prolonged ebbs and flows. When the economy is on an upswing, this very fact acts as an elixir that emboldens capitalists, who begin to expect that the “good times” are going to continue; this makes them less worried about…

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The Yellow Vest Movement

The Yellow Vest Movement Nothing shows the crisis of neoliberal capitalism more clearly than the popular uprising in France that is occurring under the banner of the “Yellow Vest” movement. Thousands are congregating in Paris over week-ends to protest against the intolerable burdens being imposed upon them in the name of “austerity” and to demand…

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Climate Activists Take Civil Disobedience World-Wide

Climate Activists Take Civil Disobedience World-Wide Chloé Farand     More than 100 people were arrested during a week of action across the UK as protesters demanded the government treat the threats posed by climate change as a crisis and take drastic steps to cut emissions to net zero by 2025.   Thousands of people…