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Foster on the Failed System

Saturday, March 21, 2009

Teh Suck

John Bellamy Foster has an article in the latest issue of the Monthly Review titled, “A Failed System: The World Crisis of Capitalist Globalization and its Impact on China.” Here is the gist of the article:

Three critical contradictions make up the contemporary world crisis emanating from capitalist development: (1) the current Great Financial Crisis and stagnation/depression; (2) the growing threat of planetary ecological collapse; and (3) the emergence of global imperial instability associated with shifting world hegemony and the struggle for resources. Such structural weaknesses of the system, as Joseph Schumpeter might have said, are the product of capitalism’s past successes, but they raise catastrophic problems and failures in the present nonetheless.  How we choose to act today in response to this failed system is therefore the most critical question that humanity has ever faced. [Emphaiss mine]

An electronic dump in China.

An electronic dump in China.

Images from:
Art es Anna


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