Imperialism, neoliberalism's failure and the new cold war, with Radhika Desai
Geopolitical Economy Report
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The Golden Age of Capitalism
Karl Marx had predicted that once capitalism enters its monopoly phase, it ceases to become historically progressive. This was reached in the early 20th century after catastrophes of 30 years crisis and two world wars. The only reason why there was a post-war golden age is because capitalism was ringed around with socialist measures such as the welfare state,. Only these measures permitted capitalism to expand but now they have been taken away by neoliberalism. 'Only finance has exploded. Everything else is basically not performing very well,' he says.
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