Poverty Has Always Accompanied Capitalism

July 3, 2016
Posted in Blog
July 3, 2016 Editor

Sunday, 03 July 2016 00:00 By Mark Karlin, Truthout | Interview
photo above: “Poverty has always accompanied capitalism (as Thomas Piketty’s work documents yet again),” says economist Richard D. Wolff. (Photo: Jeremy Brooks / Flickr)

an excerpt:In this presidential election, there has been very little talk about poverty. How is poverty an inevitable by-product of capitalism? Doesn’t this make all these charitable drives “to eliminate poverty” disingenuous because it cannot be eliminated in a capitalistic system?

Poverty has always accompanied capitalism (as Thomas Piketty’s work documents yet again). As an economic system, it has proven to be as successful in producing wealth at one pole as it is in producing poverty at the other. Periodic “rediscoveries of” and campaigns against poverty have not changed that. Capitalism’s defenders, having long promoted the system as the means to overcome both absolute and relative poverty (i.e. to be an equalizing system), now change their tune. They either abandon equality as a social good or goal or else try to avoid discussing poverty altogether.

Why do you see another economic implosion, as we saw in 2008, as inevitable under the current capitalistic economic order in the US?

While “inevitable” is not a word or concept I use, my sense of what has happened in and to the US economy sees reason to believe another 2008-like implosion is quite likely. The reason is this: no real changes have been made in US or global capitalism. Corporate capitalism proved strong enough and its critics weak enough to enable the imposition of austerities as the chief policy response everywhere. So the speeding train of capitalism is “back on track,” resuming its rush toward stone walls of excess debt, stagnant mass incomes, capital relocating overseas, etc. The too-big-to-fail and the too-unequal-to-be-sustained have only become bigger and more unequal. The ominous sense of impending implosion reverberates throughout the national politics and culture.

Please click on: Poverty and Capitalism

,

Editor

Wayne Northey was Director of Man-to-Man/Woman-to-Woman – Restorative Christian Ministries (M2/W2) in British Columbia, Canada from 1998 to 2014, when he retired. He has been active in the criminal justice arena and a keen promoter of Restorative Justice since 1974. He has published widely on peacemaking and justice themes. You will find more about that on this website: a work in progress.

Always appreciate constructive feedback! Thanks.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This is the drop down list of all Blog entries (over 700), beginning with most recent. All titles are clickable. (At bottom of each webpage is also a “SEARCH” box.)

Please click the X if you do not wish to view this now. The list is also under “Blog” on the Sitemap page, which includes dates. Please also view the following for a list of some of my favourites (all titles also clickable). Full list below “Favourites” is in dsescending chronological order.

Favourites

Group by:

Blog

Uncategorized

    Thanks for clicking on the post. I encourage you to leave a comment at bottom of this or any post, and of most pages. See Sitemap for a full list by titles and dates, under “HOME“; or see  BLOG for thumbnails you may view from current to previous; or check ARCHIVES below each post for groupings by year and month. You may also see Related Posts below each post. There as well, you may choose to rate posts/most pages. At bottom of each page is also a “SEARCH” box. My commitment is to respond if comment is approved. I can learn something for sure! Hopefully you may too…

    Thanks, 

    Wayne Northey

    Care to follow posts?

    Get the latest posts delivered to your mailbox (unsubscribe any time):

    %d bloggers like this: