The other factor that was not present in previous crises of capitalism is the limits of the Earth System. Capital, in its desire for endless growth, to generate more and more profit, has overshot the bio capacity of the Earth and is disturbing the vital cycles of nature, like the cycles of water and carbon. For the first time in 2,000 million years the world has surpassed 400 parts per million of CO2 in the atmosphere, and this process began with the industrial revolution that gave birth to the capitalist system. Climate change is just one of the planet’s boundaries. The biodiversity loss, the deforestation, the pollution, the destruction of ecosystems are all aggravated by the merciless attack of capital. Instead of a decline in the over exploitation of natural resources to re-establish the balance of the Earth system, we are seeing a new and more concerted assault on all natural resources. Capital cannot and will not accept the limits of the Earth and the reality. Capital will bleed the planet dry. Some corporations will lose in this race, some capital will be wiped out, but others will keep going, grabbing all that is left. Capital does not have a nationality. It does not matter where their headquarters are (many are in tax havens). Capital will do whatever it can to increase profit. American, European, Japanese, Chinese, Brazilian, Indian… all capital seek to expand and they join forces and also fight between each other because there is not enough for all.
Posted on: Thu, 04 Jul 2013 09:42:12 +0000
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