[Marxism] Fwd: The end of globalisation and the future of capitalism | Michael Roberts Blog

Louis Proyect lnp3 at panix.com
Sun Sep 11 06:21:40 MDT 2016


DeLong echoes Keynes in 1931 by concluding that “short of a nightmare 
scenario like terror-driven nuclear war, you can expect my successors in 
2075 to look back and relish that, once again, their world is three 
times better off than ours is today.”

This pro-capitalist optimism was also recently promoted by Nobel prize 
winner Angus Deaton.   Deaton is an expert on world poverty, the 
consumption patterns of households and how to measure them.  He 
emphasises that life expectancy globally has risen 50% since 1900 and is 
still rising. The share of people living on less than $1 a day (in 
inflation-adjusted terms) has dropped to 14 percent from 42 percent as 
recently as 1981. The greatest progress against cancer and heart disease 
has come in the last 20 to 30 years.  “Things are getting better,” he 
writes, “and hugely so.”

But Deaton makes it clear that progress in living conditions and quality 
of life is a relatively recent development. And much of this improvement 
in the quality and length of life comes from the application of science 
and knowledge through state spending on education, on sewage, clean 
water, disease prevention and protection, hospitals and better child 
development.  These are things that do not come from capitalism but from 
the common weal.

full: 
https://thenextrecession.wordpress.com/2016/09/11/the-end-of-globalisation-and-the-future-of-capitalism/



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