Home » Top Stories » Capitalism Itself is Collapsing According to Yale Scholar Immanuel Wallerstein

Capitalism Itself is Collapsing According to Yale Scholar Immanuel Wallerstein

Posted by Top Stories Sunday, October 9th, 2011
Print Friendly

on Oct 9, 2011 There is barely a corner of the globe that has not been touched by the current financial meltdown. But a senior sociology scholar at Yale University thinks the crisis is far wider than the economic crash – it is capitalism itself which is collapsing. ­Immanuel Wallerstein explained his theory to RT.

“The civilized cause more more trouble than the NON civilized; the civilized try to destroy the ‘barbarians’; It’s not the barbarians that try to destroy the civilized; the civilized try to define the barbarians…” Immanuel Wallerstein, Senior scholar at Yale

 

Short URL: http://www.americanpendulum.com/?p=7941

All material(s) used on this site that are not original or are under copyright are used under Fair Use under the Copyright Act of 1976, 17 U.S.C. § 107 however if you come across any infringing material please immediately contact us. We will immediately rectify any issues without delay or argumentation.

LEAVE A RESPONSE


Some Comments may be delayed due to added links within the comment or various other reasons. We try to approve them as soon as possible. Spam is deleted and bad links, but advise caution when clicking on links within comments if they are unknown. WHAT IS REMOVED: anything unlawful, threatening, libelous, defamatory, obscene, racist, or that contains other material that would violate the law. By posting you agree to this. For more information read our privacy policy.
  • John Smith

    Capitalism is a totally flawed economic system and its collapse was inevitable. Capitalism’s distinguishing defects include the inevitability of overproduction of goods for too few markets–leading to economic and military warfare between competing capitalist nations. Since about 1950, return on investments in manufacturing has sharply decreased, leading to the creation of a fantasy economy of financial scams such as derivatives, swaps, futures, options, mortgage-backed securities (MBSs), collateralized debt obligations (CDOs), and structured investment vehicles (SIVs). There has been a massive migration of capital from real, productive industry to the “speculative sector” run by financial giants like AIG and Lehman Brothers. All of these swindles are unreal, mere entries in digital “space.”

    Derivatives, for example, are mere mathematical formulas in which profits are supposed to derive not from trading assets but from speculation on the expectations of the risk of underlying assets. Such speculative chimera have created a nuclear device that has now exploded, mortally wounding the “real economy.”

AlbanianArabicArmenianBelarusianBulgarianCroatianCzechDanishDutchEnglishEstonianFilipinoFinnishFrenchGeorgianGermanGreekHindiHungarianIcelandicIndonesianItalianJapaneseKoreanLatvianNorwegianPersianPolishPortugueseRomanianRussianSerbianSpanishSwedishTurkishUkrainian

FEATURED VIDEOS

The Commodity prices are provided by Forexpros - The Forex Trading portal

© 2012 American Pendulum. All Rights Reserved. Log in -