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By Murray Smith
Global capitalism, with humanity in tow, is now facing a triple crisis:
a deepening structural contradiction of the capitalist mode of
production, one manifested as a multi-dimensional crisis of
‘valorisation’ – that is to say, a crisis in the production of
‘surplus-value’, the very lifeblood of the profit system; an acute
crisis in international relations stemming from the fact that the global
productive forces are bursting the confines of the nation-state system,
whose individual units continue to address their gravest problems in
primarily ‘national’ ways; and a growing ‘metabolic rift’ between human
civilisation and the ‘natural conditions of production’ – the ecological
foundations of human sustainability. Together, these interrelated crises
suggest that we have now entered a ‘twilight era’ of capitalism – one in
which humanity will either find the means to create a higher and more
rational order of social and economic organisation, or in which decaying
capitalism will bring about the destruction of human civilisation.
full:
https://www.counterpunch.org/2020/01/31/karl-marxs-law-of-value-in-the-twilight-of-capitalism/
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