Crisis of Capitalism and the Left

by Emir Sader from Monthly Review 20 September 2008 A new crisis of capitalism, in the style of 1929. The theories of casino capitalism are confirmed. The US government contradicts itself again and heavily intervenes, demonstrating that its confidence in the market isn't as great as its propaganda displayed. Neoliberal capitalism spills its guts, and the theories of the Left – Keynesian or anti-capitalist – critical of neoliberalism are corroborated. Our theories about the anti-social and perhaps terminal character of capitalism borne out, we leftists smile, rubbing our hands, eager for social and political consequences of crises.

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