1Dime Radio

The Final Crisis of Capitalism? Automation, Ecology and SOLUTIONS (Ft. Ted Reese)

Feb 8, 2024

Ted Reese, a Marxist theorist, discusses his book 'Socialism or Extinction' on 1Dime Radio. Topics include Marxist crisis theory, automation, the ecological crisis, and the "everything bubble". Keynesian Social Democracy and the Green New Deal can't solve capitalism's root problem. The podcast also delves into solutions to the climate crisis, the logistics of communism, the viability of clean energy, and transitioning away from capitalism.

56:48

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Episode guests

Ted Reese

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Episode notes

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Quick takeaways

Capitalism's reliance on labor-intensive production exacerbates climate change, hindering progress towards sustainable practices.

Mainstream solutions to climate change face limitations and shortcomings within capitalist systems, emphasizing the need for a transition away from capitalism.

Deep dives

Capitalism's Inability to Address Climate Change

Capitalism's reliance on labor-intensive production, such as mining and fossil fuel extraction, exacerbates climate change. Exploiting labor for profit leads to the depletion of resources and the emission of greenhouse gases. Capitalism's need for constant accumulation restricts investment in sustainable alternatives, like hemp production or nuclear energy. While nuclear power is emissions-free, the profitability of nuclear energy is hindered by the high capital-to-labor ratio. Publicly-owned nuclear industries within a socialist economy could accelerate progress. However, current capitalist systems prioritize profit over environmental concerns, leading to insufficient action and an overreliance on fossil fuels.

Introduction

3min

Capitalism, the Climate Crisis, and the Tendency of the Rate of Profit to Fall

14min

Contradictions of Capitalism: Crisis and the Need for Socialism

21min

Woke Capitalism and its Limitations

9min

Additive Production and the Potential of Hemp

4min

The Relationship Between Nuclear Power and the Fossil Fuel Industry

3min

Discussions on Hemp, Solutions, and Proposals

3min

Part 2 on the Socialist Transition is available on Patreon: https://www.patreon.com/OneDime⁠

In this episode of 1Dime Radio, I am joined by the Marxist theorist Ted Reese to discuss his book 'Socialism or Extinction'. We discuss Marxist crisis theory/ “breakdown theory” and Karl Marx’s theory of the “tendency of the rate of profit to fall” in capitalism, elaborated by Henryk Grossman. Ted Reese discusses the “final contradictions” of capitalism, such as automation, the ecological crisis, and the “everything bubble” that could lead to the final breakdown of capitalism. Ted explains why Keynesian Social Democracy and the Green New Deal can’t solve the root problem and prevent capitalism’s inevitable tendency towards crisis.

In Part 2 of the podcast (for Patrons) we discuss the viability of various specific solutions to the climate crisis, such as “overpopulation”, degrowth, and different forms of clean energy and sustainable resources such as Hemp. In this bonus episode, we also discuss the particularities of a communist transition and what stages of socialism could look like. This involves questions regarding the logistics of democracy, communism, labor, distribution, planning, dealing with poverty, transitioning away from the capitalist mode of production, and preventing counter-revolution. We think it is important to think seriously about the big questions regarding alternatives to capitalism and how to get there, which can be quite challenging to envision.

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Find Ted Reese on Twitter: https://twitter.com/Grossmanite

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