Overt Abandonment of the Free Market: Government Geostrategic (Military) and Economic, International and National Interv
Given the crises of overproduction inherent in free market competition, and mindful of the power of colonialization and economic neo-colonialization to forestall such crises, many capitalist economies, led by the US, have resorted to strategic interventio
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Simon Glynn
The Economic Logic of Late Capitalism and the Inevitable Triumph of Socialism
Simon Glynn
The Economic Logic of Late Capitalism and the Inevitable Triumph of Socialism
Simon Glynn Philosophy Florida Atlantic University Boca Raton, FL, USA
ISBN 978-3-030-52666-5 ISBN 978-3-030-52667-2 (eBook) https://doi.org/10.1007/978-3-030-52667-2 © The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer Nature Switzerland AG 2020 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Palgrave Macmillan imprint is published by the registered company Springer Nature Switzerland AG. The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Preface
Analysis of the Great Recession and the understanding thus derived leads, as the book shows, to the admittedly startling thesis that capitalism has almost run its course, and will inevitably be replaced by socialism. Thus, while the predatory mortgage lending and overleveraging, which is to say the overextension of credit, was, as has been well established, the immediate cause of the Great Recession, this overextension of credit was a response to a crisis of overproduction, which is to say of insufficient economic demand for the supply of goods and services. A crisis of overproduction, which as Marx argued over a century and a half ago, is rooted in what he identified as a contradiction at the heart of capitalism. The contradiction being that the drive for ever increasing efficiency or productivity, that is the precondition of survival in a competitive capitalist economy, puts downward pressure on wages and other benefits, and upward pressure on production, thereby leaving the general population with insufficient money to be able to purchase the goods and services they produce. And although more developed capitalist economies have been ab
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