Is This the Terminal Phase of Global Capitalism 1.0?
The road for both global capital and the State is narrowing to a rocky trail that leads to a cliff.
by Charles Hugh Smith, Of Two Minds:
We turn to cycles–business, solar, Kondratieff, etc.–to understand current events. But what if this era is not just a cycle but the terminal phase of Global Capitalism 1.0?
This heretical thought arises from the school of economic history pursued by Fernand Braudel and those he inspired. I have long recommended Braudel’s three volume history of early capitalism as essential reading for anyone seeking to understand modern global capitalism: Civilization & Capitalism, 15th to 18th Centuries: