Tuesday, March 18, 2008

The End of Money?

I hope this freaking world economy collapses before I have to get a job :p

The crisis may actually have far deeper roots, going back to the basis of capitalism itself, an economic system that constantly requires new markets to penetrate and cannot sustain itself without continually extending its reach. In a fully globalized world, where there are no new markets to reach or new resources to exploit, capitalism may have reached its natural limit. It is also imprecise to call the current system “capitalist” in a classical sense, as it is actually one where massive subsidies protect vested interests, from agricultural lobbies to oil companies, and the ideal of a “free market” is a convenient fiction.

In a fully globalized world, the Neoliberal model can only perpetuate itself through the types of shock effects described by Naomi Klein in The Shock Doctrine, where destruction is encouraged and then seized upon as an opportunity to redevelop and recolonize areas already within empire.

By Daniel Pinchbeck for Reality Sandwich
(I'd post 90% of their articles if I could get away with it :p)

No comments: