{"id":40026,"date":"2018-11-01T13:48:16","date_gmt":"2018-11-01T18:48:16","guid":{"rendered":"http:\/\/olduvai.ca\/?p=40026"},"modified":"2018-11-01T13:48:16","modified_gmt":"2018-11-01T18:48:16","slug":"catabolism-capitalisms-frightening-future","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=40026","title":{"rendered":"Catabolism: Capitalism\u2019s Frightening Future"},"content":{"rendered":"

Catabolism: Capitalism\u2019s Frightening Future<\/a><\/h3>\n
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Photo Source SPACES Gallery | CC BY 2.0<\/a><\/p>\n<\/div>\n

\u201cOut of the frying pan, into the fire\u201d is an apt description of our current place in history. No matter what you think of globalization, I believe we\u2019ll soon discover that capitalism without it is much, much worse.<\/p>\n

No one needs to convince establishment economists, politicians and pundits that the absence of globalization and growth spells trouble. They\u2019ve pushed globalization as the Viagra of economic growth for years. But globalization has never been popular with everyone. Capitalism\u2019s critics recognize that it generates tremendous wealth and power for a tiny fraction of the Earth\u2019s seven billion people, makes room for some in the middle class, but keeps most of humanity destitute and desperate, while trashing the planet and jeopardizing human survival for generations to come.<\/p>\n

Around the world, social movements believe \u201cAnother World Is Possible!\u201d when neoliberal globalization is replaced by a more democratic, equitable, Earth-friendly society.\u00a0 They assume that any future without globalization is bound to be an improvement. But now it appears that this assumption may be wrong. In fact, future generations may someday look back on capitalism\u2019s growth phase as the dynamic days of industrial civilization, a na\u00efve time before anyone realized that the worst was yet to come.<\/p>\n

The Return of Scarce Oil and Peak Debt<\/strong><\/p>\n

Today, rising energy prices and ballooning debt are poised to strangle the global economy once again. These suffocating conditions brought the economy to its knees in 2008. Afterward, fracking helped increase the supply and lower the price of oil and gas temporarily. Meanwhile, debt-dependent cash infusions in the form of bailouts, low interest rates, corporate tax cuts and leveraged stock buy-backs were injected into the economy to prop up stock prices and profit margins. [1]<\/a><\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Catabolism: Capitalism\u2019s Frightening Future Photo Source SPACES Gallery | CC BY 2.0 \u201cOut of the frying pan, into the fire\u201d is an apt description of our current place in history. No matter what you think of globalization, I believe we\u2019ll soon discover that capitalism without it is much, much worse. No one needs to convince […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[111,21757,5493,21552,195,2488,370,391,588],"class_list":["post-40026","post","type-post","status-publish","format-standard","hentry","category-economics","tag-capitalism","tag-catabolism","tag-counterpunch","tag-craig-collins","tag-debt","tag-energy-prices","tag-globalization","tag-growth","tag-oil"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/40026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40026"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/40026\/revisions"}],"predecessor-version":[{"id":40027,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/40026\/revisions\/40027"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}