Immanuel Wallerstein: 'Capitalism Collapsing, cash-n-grab system cannot survive'

[marmar]

Run time: 11:27 https://www.youtube.com/watch?v=8deSBrufhFw   Posted on YouTube: October 09, 2011 By YouTube Member: KnewWorldNoing Views on YouTube: 67   Posted on DU: October 10, 2011 By DU Member: marmar Views on DU: 1392

 

There is barely a corner of the globe that has not been touched by the current financial meltdown. But a senior sociology scholar at Yale University thinks the crisis is far wider than the economic crash - it is capitalism itself which is collapsing. ­Immanuel Wallerstein explained his theory to RT.

"Karl Marx, whom he follows in emphasizing underlying economic factors and their dominance over ideological factors in global politics, and whose economic thinking he has adopted with such ideas as the dichotomy between capital and labor, the view of world economic development through stages such as feudalism and capitalism, belief in the accumulation of capital, dialectics and more; French historian Fernand Braudel, who had described the development and political implications of extensive networks of economic exchange in the European world between 1400 and 1800; Dependency theory, most obviously its concepts of "core" and "periphery"; and — presumably — the practical experience and impressions gained from his own work regarding post-colonial Africa."

[Mosaic]

1. I agree with the Yale professor

Since 2008 we've known capitalism is collapsing. We need to make this more known, the corporate media must talk about it.

[xchrom]

2. off to the greatest. nt