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:

Article Continues Below

The Structures of Everyday Life (Volume 1)
The Wheels of Commerce (Volume 2)
The Perspective of the World (Volume 3)

Read More @


Follow IWB on Facebook and Twitter