Ian Welsh — Capitalism and Good Post-Capitalism

Ian reflects on the forced transition from feudalism to capitalism through enclosure and urbanization, and what the transition to post-capitalism needs to involve. At least, the peasants, serfs, and tenant farmers were self-sufficient under feudalism. Under capitalism they became wage serfs and debt slaves. Post capitalism is about fixing that.

Ian Welsh
Capitalism and Good Post-Capitalism

Finian Cunningham — Bankrupt Capitalism: The Real Greek Verdict

Whatever the outcome of the neck-and-neck Greek referendum on EU-imposed austerity, the real verdict is clear: capitalism is a bankrupt, redundant economic system that has become a scourge on humanity....

Over the past two decades, capitalism has degenerated into a financial casino system, driven by the decline of profits in manufacturing and real production. It is no long a system that provides for human needs. It has become a form of financial parasitism, stock market and currency speculation, dictated by banks and fictitious capital. The system has become divorced from the real world – a realm where the global one per cent thrive while the vast majority of humanity struggle to exist.

Driven by neoliberal ideology of deregulation and regressive taxation where the wealthy pay less and less in tax, whole countries have now found themselves in a form of debt slavery. That has in turn decimated social security through austerity on the unemployed, pensioners and workers. The collapse in economic production has been concealed by the spawning of fictitious capital, which results in the parallel universe of seemingly roaring stock markets and banking. But in the end, it is all debt that is dumped on wider society....

Finian's got his Irish is up, as they say, and well he should considering the fate of Erin before Greece. Anyone see a pattern developing?

Sputnik
Bankrupt Capitalism: The Real Greek Verdict

Finian Cunningham