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Tag: collapse

We’re Not in This Together

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by Ajay Singh Chaudhary, April 2020, Baffler No. 51

There is no universal politics of climate change

In November of 2018, fires of “unprecedented speed and ferocity” broke out across Northern and Southern California. The “Camp Fire” in Northern California killed just under ninety people and destroyed approximately nineteen thousand structures. Even with modern safety protocols and building codes, it was the deadliest and most destructive fire in California history. The “Woolsey Fire” in Southern California burned, at the exact same time, nearly one hundred thousand acres. Fires are tricky things to understand. The fires that burn across most of central Africa, for example, are seasonal, mostly contained, and part of a decently well-maintained agricultural cycle. Californian wildfires, while certainly nothing new, are not. They may be sparked by simple heat or a lightning strike, or by a recreational accident or a glitch in the utility grid, but their frequency, intensity, and duration have all unquestionably increased due to anthropogenic climate change.

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Theory of Crisis and the Problem of Constitution (Marramao, 1975)

 

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by Giacomo Marramao – Telos No. 26, Winter 1975-76

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It is still widely held that the theory of the crisis and collapse of the capitalist system is inherited from the positivist deformation of the “Marxism of the Second International,” and that it thus implies ideological support for reformist politics. Ten years ago, Raniero Panzieri wrote: “As a matter of fact, Marxist thought since Marx has recognized the appearance of a ‘turn’ in the system with the development of monopoly capitalism and of imperialism around the 1870s (which today appears to us as a transitional period in relation to the ‘turn’ that began in the 1930s and is now being completed). But the analysis and description of the phase following that turn was immediately framed in terms of laws that such a phase tended to overcome. Thus, it was interpreted as a ‘final phase’.”[1] And, in a note, he added: “The mythology of the ‘last stage’ of capitalism exists with differing, even opposite, ideological functions both in Lenin and in Kautsky: in Lenin, to ‘legitimize’ the breakdown of the system at the less advanced points of its development; in Kautsky, to sanction the reformist postponement of revolutionary action until the ‘correct time.’ Since the 1917 revolution failed to consolidate itself with revolutions in more advanced countries, it fell back on objectives immediately realizable within Russia’s level of development. This would-be explanation of the possible presence of capitalist social relations in planning (a shortcoming remaining in the whole development of Leninist thought) will later facilitate the repetition, whether in the factories or in total social production, of capitalist forms behind the ideological screen of identifying socialism with planning and the possibility of ‘socialism in one country’.”[2]

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Capitalism and ecology: from the decline of capital to the decline of the world – Paul Mattick

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‘Kapitalismus und Okologie’ (1976) by Paul Mattick, translated by Paul Mattick Jr. This article looks at ecological crisis, the Club of Rome’s ‘The Limits to Growth’, and the work of East German philosopher Wolfgang Harich.

The historical character of nature follows from the Second Law of thermodynamics, discovered more than a hundred years ago by Carnot and Clausius, spelling an increase in entropy ending in heat death. Our earthly life depends on the continuous supply of energy from solar radiation, which decreases with increasing entropy, however slowly. The period of time involved is indefinite from the human point of view, too gigantic to be taken into practical consideration. Nevertheless, the entropy law has a continuous, direct influence on the earth and therefore on the fate of humankind. Apart from the sun, the mineral wealth of the earth provides for the satisfaction of human energy needs. Its exploitation, however, hastens the transformation of “free” into “bound” energy, that is, energy no longer available for human use and degrading towards heat death. In other words, the available energy sources can only be utilized once. With their exhaustion human life would come to an end, and indeed very long before the cooling of the sun, as all the natural riches of the earth contain no more energy than two days’ sunlight.

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Are We Heading for Another Economic Crash?

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This article was first published by State of Nature, as part of the monthly “One Question” series, which solicits responses to a single query from a variety of thinkers. This month’s question — “Are we heading for another economic crash?” — received responses from Wolfgang Streeck, Cédric Durand, Susan Newman, David M. Kotz, Mingqi Li, Mary Mellor, Andrew Ross, Tim Di Muzio, Dario Azzellini, Ying Chen, Richard Murphy, Michael Roberts, Lena Rethel, and Heikki Patomäki. 

Wolfgang Streeck

Professor emeritus of sociology. From 1995 to 2014 he was Director at the Max Planck Institute for the Study of Societies in Cologne, Germany. His latest book is How Will Capitalism End? Essays on a Failing System (Verso, 2016).

I’m not a prophet. But there is no capitalism without the occasional crash, so if you will we are always heading for one. Inflation in the 1970s was ended by a return to “sound money” in 1980, which begot deindustrialization and high unemployment, which together with tax cuts for the rich begot high public debt. When public debt became too high, fiscal consolidation in the 1990s had to be compensated, for macro-economic as well as political reasons, by capital market deregulation and private household debt, which begot the crash of 2008.

Now, almost a decade later, public debt is higher than ever, so is private debt; the global money volume has been steadily increasing for decades now; and the central banks are producing money as though there was no tomorrow, by buying up all sorts of debt with cash made ‘out of thin air’, which is called Quantitative Easing. While everybody knows that this cannot go on forever, nobody knows how to end it — same with public and private debt, same with the money supply. Something is going to happen, presumably soon, and it is not going to be pleasant.

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