The U.K. Riots And The Coming Global Class War

[marmar]

from Forbes:




The U.K. Riots And The Coming Global Class War


The riots that hit London and other English cities last week have the potential to spread beyond the British Isles. Class rage isn’t unique to England; in fact, it represents part of a growing global class chasm that threatens to undermine capitalism itself.

The hardening of class divisions has been building for a generation, first in the West but increasingly in fast-developing countries such as China. The growing chasm between the classes has its roots in globalization, which has taken jobs from blue-collar and now even white-collar employees; technology, which has allowed the fleetest and richest companies and individuals to shift operations at rapid speed to any locale; and the secularization of society, which has undermined the traditional values about work and family that have underpinned grassroots capitalism from its very origins.

All these factors can be seen in the British riots. Race and police relations played a role, but the rioters included far more than minorities or gangsters. As British historian James Heartfield has suggested, the rioters reflected a broader breakdown in “the British social system,” particularly in “the system of work and reward.”

In the earlier decades of the 20th century working class youths could look forward to jobs in Britain’s vibrant industrial economy and, later, in the growing public sector largely financed by both the earnings of the City of London and credit. Today the industrial sector has shrunk beyond recognition. The global financial crisis has undermined credit and the government’s ability to pay for the welfare state. ...........(more)

The complete piece is at: http://www.forbes.com/sites/joelkotkin/2011/08/15/u-k-riots-global-class-war/

[villager]

1. "Undermine capitalism?" Capitalism itself is doing a fine job of that....

n/t

[seeviewonder]

3. Didn't that damn socialist Roubini

just say that capitalism is beginning to destroy itself...lol

[jwirr]

2. It amazes me that this comes from Forbes. They do know what is

happening. Why don't their readers wise up and start working to reduce the class differences? Or does there have to be a massacre before they wake up? We know how to fix this - Krugman and Reich have been telling us all along. Do they really think they are all going to fit on that little island they are building out there in the ocean?

[Zax2me]

4. We've already got the roving thugs/gangs in major cities.

Attacking people.
I don't know how that is going to be turned into anything positive, though.

[marmar]

6. Yep. Here are a couple of them:

[socialist_n_TN]

5. Interesting that this is in Forbes...........

And, as another poster pointed out, the mainstream economist talking about Marx being right about capitalism killing itself by it's own self induced contradictions. What's interesting is that it's the mainstream capitalists THEMSELVES that are noticing, even moreso than either the politicians or the people. YET THEY CAN'T DO ANYTHING ABOUT IT.

That's what I have always said about the system. They can't even save themselves. I think they are beginning to notice that things aren't going to turn out well, but they're so locked into the system that they don't have the will to actually CHANGE anything about it.

[nadinbrzezinski]

12. Nah the same happened in the early 1930s

people knew that they needed somebody to save capitalism from itself. While the hard right fought FDR, even plotted against him... the more moderate right knew it. There were riots and marches on DC and that scared the living daylights of the chattering classes... these days we have riots and rumors of such, and an actual progressive revolt in Wisconsin and Ohio, and people are waking up... that scares them far more than a few taxes. Wait. FORBES will demand higher taxes and regulation in order to save itself.

[StarsInHerHair]

7. the Banksters have undermined Capitalism themselves, of course it's from

forbes!!

[bemildred]

8. "Coming"? nt

[nadinbrzezinski]

9. Forbes is blaming the demise of the White Protestant Ethic?

(Yes that is what that code is all about, if we had more religion people would accept gladly their place in the CASTE system)

[bhikkhu]

10. Well, I guess Muslims aren't scary anymore -

Now they're selling "Fear of the Poor!"

...anyone who's been around for long is probably tired to the point of complete disinterest at predictions of the "coming war" of whatever happens to be in style at the moment.

[nadinbrzezinski]

11. From the conclusion...

Many conservatives here, as well as abroad, reject the huge role of class. To them, wealth and poverty still reflect levels of virtue — and societal barriers to upward mobility, just a mild inhibitor. But modern society cannot run according to the individualist credo of Ayn Rand; economic systems, to be credible and socially sustainable, must deliver results to the vast majority of citizens. If capitalism cannot do that expect more outbreaks of violence and greater levels of political alienation — not only in Britain but across most of the world’s leading countries, including the U.S.

*********

All that is old is new... why am I reminded of the RW leaning publication asking for reform oh circa '31, 1931 or 1932?

Hmm

All that is old is new.

Boys stop looking at RIGHT OR LEFT solutions... yes the welfare state needs expanding... as in a JOBS program... BUT... we also need the kind of regulations that wil prevent them nimble companies from going overseas at the drop of a hat...