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Modern capitalism has reached the end of its rope’ — rt

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  1. 1. Modern capitalism has reached the end of its rope RT VERSIONS:NOTICIAS FREEVIDEO RTFIND US ON: LOG IN SIGN UP Search RTNews Top VideosProgramsPolitics USA BusinessSportArt&CultureAll about Russia Learn Russian Community Meet FriendsOnline Exclusive NewsModern capitalism has reached the end of its rope Modern capitalism has reached the end of itsMORE ON THE STORY ropeWall Street protesters knowreal power not in Washington Published: 04 October, 2011, 14:06permalinkemail story to a friendprint versionDC 02.10, 18:44 The Occupy Wall Street 10 commentsprotests are a sure sign thatpeople have begun to realizewhere the real power center ofthe United States rests, JamesCorbett, editor of thecorbettreport.com website, toldRT.US debt crisisOccupy Wall StreetArab Spring is a scapegoatfor US economic failurePresident Barack Obama, whohas always hailed the Arab "Occupy Wall Street" demonstrators stage a protest near 30.09, 06:58 uprisings as a victory for Wall Street in New York, October 3, 2011 (AFP 7 comments democracy, now says they Photo/Emmanuel Dunand) have contributed to sloppyeconomic recovery in the US. (90.8Mb)Arab world protests TAGS: Investment, Crisis, Psychology, TRENDS: Eurozone crisisUS debt crisis Marina Dzhashi, Sophie Shevardnadze, Finance, Global economyWall Street making money on There is barely a corner of the globe that has not been touched by the current financial meltdown. But a seniordebt-ceiling bickering sociology scholar at Yale University thinks the crisis is far wider than the economic crash - it is capitalism itself which is Keiser collapsing. 01.08, 23:11 No matter what debt-ceiling 7 comments decision American lawmakers Immanuel Wallerstein explained his theory to RT. make on Monday, Americancredit ratings will be Modern capitalism has reached the end of its rope. It cannot survive as a system, Wallerstein said. And what we are downgraded and this is exactly seeing is the structural crisis of the system. The structural crisis goes on for a long time. It really started more or less inwhat bankers on Wall Street the 1970s and will go on for another 20, 30, 40 years. It is not a crisis of a year or of a short moment, it is the majorcrave, financial analyst MaxKeiser told RT. structural unfolding of a system. And we are in transition to another system and, in fact, the real political struggle that is going on in the world that most people refuse to recognize is not about capitalism should we have or should we not have it but about what should replace it.US puts burden on the entire Immanuel Wallerstein also explained there are two different views on what should replace capitalism. world PutinAmericas possible default has I would like a more relatively democratic, more relatively egalitarian world that is one view, he said. We never hadresonated far and wide. that in the history of the world, but it is possible. The other view is that you have a very unequal, polarizing, exploitative01.08, 22:41 Russias prime minister says system. It does not have to be capitalism. Capitalism is that. But you can do that in many other ways, some of which15 commentsthat the current deal struck by may be far worse than capitalism. US lawmakers will not solve theunderlying issues. And he shared with RT what he thinks of the political struggle unfolding around the world. RIA Novosti It is technically called a bifurcation of a system, he said. Its roots are in many ways the impossibility of continuing the European countries credit ratings. basic principle of capitalism which is seized as the accumulation of capital. And thats the whole point of capitalism as a Infographichttp://rt.com/news/end-capitalism-system-replace-999/[13/10/2011 07:04:39 a.m.]
  2. 2. Modern capitalism has reached the end of its rope RT system. And it has worked in some ways marvelously well for 500 years. It has been an extremely successful system in what it was trying to do but it has undone itself as all systems do". Russias strongest girl yells at barbell to win What happens in a bifurcation is that at some point, the thing tilts and we get into a new, relatively stable situation the crisis is over, we are in a new system." Vladimir Putin puzzled by Tymoshenko verdict. Video I sometimes say this is the historicization of the old Greek philosophical distinction between determinism and free will, he went on. When the system is relatively stable, it is relatively determined as a system in which we have relatively limited free play. But when it is unstable, when it is going into structural crisis, free will comes into the picture. That is to say, our actions really matter in a way that they did not for 500 years." And it is extremely dangerous. It is a system in which everything is relatively unpredictable in the short-term. People cannot live with unpredictability in the short run, he stated. We can live with unpredictability in the long run we can adjust to that. But if you dont know what is going to happen the next day or the next year, then you dont know what to do. And you get paralyzed. And this is basically what we are seeing in the world economy right now its a paralysis. Nobody is investing because they are not sure that three years from now, they are going to get their money back. And if you dont invest you make the situation even worse. But people dont feel they have much choice. The options are few.+19 (27 votes)3@rt_com 42.5K followersBACK TO TOPShare 104015retweet0submit 302previous MORE NEWS next Dozens dead in Somalia car Afghan deadline pushed bomb blast back At least 100 people areThe commander of coalition reported dead and dozens forces in Afghanistan says the 04.10, 13:42wounded in an explosion04.10, 14:232014 withdrawal deadline will outside government buildings in13 comments not be observed. The White Mogadishu. The blast was House had originally said it caused by a truck bomb.would start the pull-out in July2011 with the aim of removingall but non-combat personnelby 2014. 10 COMMENTSRob (unregistered) October 05, 2011, 09:44 A big problem is the governmental attempt to regulate everything, always wanting to consolidate things, not to mention the fluffed currency. Keeping the ability to be diverse and free amongst an economy that is considered free and keeping regulation out of it then the system will automatically evolve as we evolve. As demand for one technology goes down, its not a cut throat world out there anymore due to red tape, so a company can easily evolve or change to newer technologies or services. Regulation attempts to keep something the same while humanity evolves, it MUST be allowed to evolve with us, which means NO MORE RED TAPE AND BRIBERY...Darren (unregistered)October 05, 2011, 06:15 The solution is democratic communism (or democratic socialism, if you prefer). People are afraid to mention it following the recent collapse of the Communist Bloc. But the leathal flaw of the communist countries was not the economic system, but the lack of democracy: multiple parties, a diverse media, etc.Nay Lin Maung October 05, 2011, 01:58 Reaching in to the new century is on the way.http://rt.com/news/end-capitalism-system-replace-999/[13/10/2011 07:04:39 a.m.]
  3. 3. Modern capitalism has reached the end of its rope RT Everybody is winners in the new century. In return, everybody has to play according to the international law. Legal disclaimer FeedbackContact usOn Air Talent RT mobile Corporate profile Job opportunities Partners Press releases Advertise with RT All RT sites Autonomous Nonprofit Organization TV-Novosti, 20052011. All rights reserved.http://rt.com/news/end-capitalism-system-replace-999/[13/10/2011 07:04:39 a.m.]