Capitalism on the slide (again)

So, it looks like we’re heading towards another recession. You can bet that the right libertarians will start screaming “We need Ayn Rand more than ever”! Actually, that’s the last thing we need. Adopting Rand’s warped ideas will only lead to a more dystopian world in which we return to a sort of pre-industrial era where right libertarians rule as feudal overlords from their gated communities.

As sure as night follows day, the usual suspects at the Telegraph and elsewhere will blame the recession on the Euro. In doing this, they wilfully ignore the writing on the wall, so to speak. The system is unsustainable. Any economic system that is based almost entirely on the pointless consumption of reified commodities solely for the purpose of impressing others is like the proverbial castle built on sand – eventually it will sink.

It’s time to put neoliberalism out of its misery and adopt a system that isn’t entirely reliant on human fear and panic. Of course, right libertarians and hardline capitalists will try and cling on as long as they can. If they won’t take their hand off the tiller, then we have to break their [metaphorical] fingers.

The party’s over for the City traders and hedge fund managers.

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Filed under Economics, laissez faire capitalism, Late capitalism, Spiv capitalism

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