World Review of Political Economy (Mar 2011)
ORGANIC CRISIS AND CAPITALIST TRANSFORMATION
Abstract
Boom! The crisis is over. But great structural or "organic" crises run in different conjunctures and with a series of fractures. Therein lies an accumulation of molecular changes and an agglomeration of diverse elements of crisis. The crisis meanders and moves its course. By the fall of 2010 we have already seen four conjunctures: Financial crisis, global economic crisis, debt crisis, crisis of representation. A fifth and sixth act are imminent. The crisis is now entering the next round. Because even the basic economic causes of the crisis are not being faced in principle—not to mention the other dimensions of the multiple crisis. On the contrary, the form of dealing with the crisis respectively prepares a next phase of crises. Neoliberalism has lost its propulsive social function. There's a lack of expansion-and development-opportunities to come to both, the needs of accumulation, as well as the social needs of the population to improve their situation or at least their need for prospects. The promises have been broken. The active support of the people has begun to crumble. We are entering another transformation of capitalism.