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New Economics Podcast cover image

Neoliberalism: The Invisible Ideology, with George Monbiot

New Economics Podcast

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Boom, Bust, Quit: The Pattern of Colonial Looting

The Portuguese sugar planters, faced with degraded lands, followed a pattern of boom, bust, and quit. They abandoned the lands, moved their sugar production to Santo May and later to the coast of Brazil, repeating the cycle of destruction and leaving behind degraded lands. This pattern established a new form of economic organization called capitalism, characterized by the exploitation and consumption of resources, turning common resources into private property through colonial looting backed by violence.

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