Monthly Archives: October 2008

Systemic Collapse: A Theory of Crisis

The current economic crisis is a combination of structural design and the inherent contradictions between the limitless search for profit, through speculation, and an interest-based economy in which production is dwindling, harbouring an excess of credit. The logic of the market, combined with neo-liberal doctrines, have brought it to the point where it is buoyed up on faith alone: capitalism is form of monotheism with its attendant myths. The danger then comes then not when the fictitious bubbles burst, but when the very real infrastructure is sold off and dismantled. The threat is no longer fictitious, but historically realised through privatisation — a degradation of the social sphere and dispossession of people’s rightful common assets. Continue reading

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Posted in Capitalism, Crisis, David Harvey, Karl Marx, Uncategorized | Tagged , , , , | Leave a comment