labor movement

Dr. Edward Martin: The 1 % of the world’s wealthiest elites want a “new underclass”

Publié le Mis à jour le

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Mohsen Abdelmoumen: Your book Savage State: Welfare Capitalism & Inequality” is an original vision of the impact of the welfare state in contemporary capitalist society. In your opinion, can the structural crisis of the capitalist system be overcome?

Dr. Edward Martin: The structural crisis of capitalism will never be overcome precisely because capitalism is built upon the absurd promise of satisfying unlimited amidst scarcity and the maximization of profits at the expense of labor. This begs the question:  who then will buy capitalist products if there is little or no purchasing power? This is what Marx meant when he argued that capitalists “become their own grave diggers.” The system implodes on itself if consumers don’t spend all of which presupposes living wage jobs. The tragedy of this system is the perpetual class struggle. The good news, on the other hand, is that public policies prioritizing justice and human rights can avoid class struggle and “inevitable revolutions.”    Lire la suite »

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