What lies behind the global recession is a particularly virile form of capitalism, now seemingly in its death throes. Let's call it "offshore" capitalism - literally so in the way it had locked itself into a network of tax havens and offshore finance centres that formed the shadow side of the world's banks and mega-corporations. But this was offshore in a metaphorical sense too - it produced financial structures and instruments so absurdly technical and abstract that the net effect was a freakishly remote economic system, detached from society.
Read more...
No comments:
Post a Comment