Tariq Ali talks to James Meadway, radical economist, about the global economy, the failure of world leaders to effectively resolve the financial crisis in 2008, and the probability of another crisis occurring in the future.
"The ecological crisis is thus presented as a technical problem that can be fixed within the current system, through better ingenuity, technological innovation and the magic of the market. In this view, the economy will be increasingly dematerialized, reducing demands placed on nature. The market will ensure that new avenues of capital accumulation are created in the very process of dealing with environmental challenges.
Yet this line of thought ignores the root causes of the ecological crisis. The social metabolic order of capitalism is inherently anti-ecological, since it systematically subordinates nature in its pursuit of endless accumulation and production on ever-larger scales. Technical fixes to socio-ecological problems typically have unintended consequences and fail to address the root of the problems -the political economic order. Rather than acknowledging metabolic rifts, natural limits, and ecological contradictions, capital seeks to play a shell game with the environmental problems. It generates, moving them around rather than addressing the root causes."
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