![]() If we are to avert disastrous outcomes we must understand both the nature of the new global capitalism and the nature of its crisis. Similarly, the current crisis exhibits features that set it apart from earlier crises of the system and raise the stakes for humanity. World capitalism has experienced a profound restructuring through globalisation over the past few decades and has been transformed in ways that make it fundamentally distinct from its earlier incarnations. The world capitalist system is arguably experiencing the worst crisis in its 500 year history. ![]() The New Global Capitalism and the 21st Century Crisis ![]() Robinson argues that the global crisis is structural and threatens to become systemic, raising the specter of collapse and a global police state in the face of ecological holocaust, concentration of the means of violence, displacement of billions, limits to extensive expansion and crises of state legitimacy, and suggests that a massive redistribution of wealth and power downward to the poor majority of humanity is the only viable solution. Global capitalism is a qualitatively new stage in the open ended evolution of capitalism characterised by the rise of transnational capital, a transnational capitalist class, and a transnational state. World capitalism is experiencing the worst crisis in its 500 year history.
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