Tag: collapse of capitalism

The capitalist life crisis

sanjay perera

by Jeff Noonan The failure of the Durban Conference on Climate Change, (December, 2011) to agree to anything more substantial than that all nations would work together to develop binding targets for reduced greenhouse gas emissions by 2015 is a metonym for the life-crisis besetting globalised capitalism.[1] Because global capitalism subordinates what John McMurtry calls “life-value”  to the expansion and accumulation of  money-value, it progressively undermines the conditions of planetary life-support, human life-requirement satisfaction, and meaningful human life-capacity development and enjoyment.[2]  Resources, relationships, practices, norms, institutions, and forms of life-activity have life-value when they:  a) satisfy objective requirements of human … Continue reading The capitalist life crisis

Taking notes 1

sanjay perera

The US dollar’s (USD) continued decline in international standing took the next inevitable step reflecting the systemic failure of capitalism. The predictable effects of unbridled capital accumulation in America manifests itself yet again in recent media reports that China and Japan are promoting direct currency exchanges to facilitate commerce and profits for their enterprises and boost bilateral trade. The move essentially is to replace the USD as a reserve currency and allows both East Asian economic giants to convert yuan and yen directly, and so by-passing currency conversion via USD. This also saves on currency conversion costs. The move effectively … Continue reading Taking notes 1