The Terminal Crises of Global Capitalism
Economic Update with Richard D. Wolff
00:00
The Global Police State
The global economy has been sputtering forward on the basis of several mechanisms pushed by the ruling groups. One is debt-driven growth; right now, worldwide debt is approaching $300 trillion. The other thing that's pushed me in global economy forward in the face of this stagnation is wild financial speculation. So the third mechanism, which has kept the global economy going, is what I call militarized accumulation. They promote and expand systems of transnational social control and repression as a way of accumulating profit.
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