The Collapse of Capitalism?

Many of us have been predicting the collapse of capitalism for 150 years. One day, we’ll be right. Another way to look at our situation is that, actually, capitalism collapsed in 1929. At the time, there was a powerful socialist movement, headquartered in the Soviet Union, fully poised to take over where capitalism left off (not to say it wasn’t highly flawed). The panic among the capitalist class was palpable. They were able to resuscitate capitalism only by unleashing on the world from Germany, Italy, and Japan a fascist movement of unprecedented viciousness and launching a world war which destroyed […]