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View Diary: Anti-Capitalist Meet-up: 20th and 21st century capitalism (part II: neoliberalism and globalisation) (94 comments)

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  •  collapse in the sense that the system (3+ / 0-)
    Recommended by:
    gmb, ActivistGuy, lams712

    will simply fall apart. Descending into severe crisis or suffering from recurrent crises is normal within this system if it is unregulated (and even if it is regulated). It can move to being completely stagnated in the advanced capitalist world, while growing in the 3rd world in new pastures. It is an incredibly adaptable parasite or virus that mutates when needed; Luxemburg covered a lot of this in her discussion of imperialism.

    No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable (Adam Smith, 1776, I, p. 96).

    by NY brit expat on Sun Jan 23, 2011 at 04:08:11 PM PST

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    •  Unless (0+ / 0-)

      what's growing in the 3rd world (or the first, for that matter) is so under the radar that the capitalist can't see it at all. Remember the part where Adam Smith says that art doesn't count in the free-market system?

      •  Smith was a man of his time ... art also (0+ / 0-)

        was not something that could be produced in large amounts by the application of simple human labour; much art still cannot be produced in that manner. The perception of what constitutes art and its production has changed tremendously since 1776 when Smith wrote.

        No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable (Adam Smith, 1776, I, p. 96).

        by NY brit expat on Sun Jan 23, 2011 at 04:54:53 PM PST

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