This is a fairly long presentation by Dr. David Harvey given at the Penn Humanities Forum in Nov. of last year. He gives a very good history of the situation in Europe as well as here. What lead up to it, why it was inevitable and the obvious outcome. And as the title suggests, why the end of capitalism is not only likely but also necessary. [h/t to SouthernDragon for turning me on to this as well]
If you watched the whole thing through you will see how Dr. Harvey says that a centrally managed zero growth economy is necessary. Before you ask how this could be done remember that during WWII that is exactly what we had. We also had some of the most technological innovation and advancement during those three years. And the remnants of this during the cold war years of the 1950s through the 1970s was nearly as great. Dr. Harvey’s website.
One of the biggest problems we have is that there are still a lot of people who either consciously or subconsciously still believe in the Fantasy of capitalism. Who still insist on playing the game the way TPTB have set it up. That things will “Get back to normal” if only _______________.
They fail to realize that THIS is the normal condition and that the previous decades or time up until the 1970s were the aberration and anomaly. And that they have a snowball’s chance in hell of ever “making it big”. Mostly the upper 20% and until they themselves are sleeping under some underpass, this is not likely to change except getting worse.
Everything that Bush and Obama has done and is doing, is simply to hide this economic reality from the top 20% so they go on with their little fantasy. The financial equivalent of soma.