Closing the Exits for Capital

Closing the Exit for Capital

Posted by Devaka Gunawardena on 10.20.17
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by Devaka Gunawardena

Since the financial crisis of 2008, capitalism has faced greater scrutiny. There’s growing consensus, even among mainstream economists, that neoclassical models that ignore the inherent irrationality of the financial system are flawed. In addition, austerity has directly undermined most people’s livelihoods, while making the rich even richer. There is much more space after the financial crisis of 2008 to critique financial speculation and the drastic reduction in public spending. Still, it remains unclear how to work toward socialism. Rhetoric opposing austerity doesn’t necessarily imply overcoming capitalism.
Read the entire piece here. http://www.dsausa.org/closing_the_exit_for_capital