Category Archives: Petras

Crisis? What Crisis? – Petras // Reinventing Labour

Recent prophets of the apocalypse saw in the 2008-2009 recession the definitive and total crash of the world capitalist system. Blinded by Euro-American ethnocentrism, they failed to note that Asian capital never entered the “final crises” and Latin America had a mild and transient version (Financial Times June 9, 2010, p. 9). The false prophets failed to recognize that different kinds of capitalism are more or less susceptible to crises … and that some variants tend to experience rapid recoveries (Asia-Latin America- Germany) while others (US, England, Southern and Eastern Europe) are more susceptible to anemic and precarious recoveries.

via Crisis? What Crisis? – Petras « Reinventing Labour.

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