The Marxist economist Michael Roberts has produced some predictions for the direction of capitalism over the next 12 months. He provides evidence of the continuing fall out of the 2007 - 2008 financial crisis in terms of low growth, combined with a lack of policy options. The resulting crisis facing capitalism can be plotted by a number of long term variables in particularly the falling rate of profit. His predictions in the past using these variables as indicators have been pretty good and he sees global capital struggling this year and moving into a downturn again in 2016. Depressingly he predicts a Tory / Liberal win in May but will provide his reasons later. The key to all of this of course, is the world working class is prepared to pay the cost of the capitalist crisis. As he points out, left political opposition to these attacks is growing in Greece and Spain. Michael argues that capitalism requires a massive destruction of existing investment to renew profit levels - at huge social cost. As he recognises, the alternative is state and collective control and direction of investment for social need and not profit i.e. socialism. It is out of the resistance to the restructuring of capitalism through austerity that a socialist alternative starts to make sense and we are building Left Unity as way of making that link. Join us!!!!!!!! thenextrecession.wordpress/2014/12/30/predictions-for-2015/
Posted on: Sat, 03 Jan 2015 16:37:02 +0000
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