It will take more than the Wall Street crash to end capitalism

The Wall Street crash had to come, with the USA’s extraordinary triple balloon of debt – household real estate debt (working class debt), government debt (in the trillions and rising to pay for the Iraq war) and the balance of trade deficit. There is a sudden wide opening for making the case for socialism, for democratic working class planning of the economy. This article explains it well.

“Capitalism is a system which works by way of periodic economic and social tsunamis that leave in their wake tremendous destruction in many millions of lives. A manic-depressive system which, like its equivalent in individual psychologies, plunges from crazy heights to destructive, paralysing depths.

‘The Market’ has been elevated to the place in the social and economic theology of the ruling class occupied in religion by God. It is a harsh and relentless, and sometimes a very cruel and destructive, God, to be sure; but also one who essentially looks out for human beings and continuously bestows a tremendous stream of gifts on us.”…

“One of the great lessons of the 20th century is that there is no such thing as an insoluble crisis for capitalism. Given time, given the chance to hold on tight, given the lack of a politically coherent alternative to itself, it recovers. Economic devastations, immensely tragic for vast numbers of people and even for individual capitalists, can, paradoxically, clear the way for capitalist economic revival. The manic-depressive system climbs out of the trough and begins a rise to peaks from which it will again, in time, plunge down. The cycle goes on.” Unless a socialist movement is built to stop it! There is another pressing consideration which socialists, anti-capitalists need to integrate into the critique of the crash, and that is the inability of the “market” to reduce carbon in the atmosphere.

So – now we look for the points at which working class people could see that collectively we could assert more rational, beneficial decisions for humanity if we had the power, and not the system that allows capital and traders of capital to gamble with our future.


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