[Marxism] How capitalism under-develops the world

Philip Ferguson philipferguson8 at gmail.com
Fri Dec 28 12:39:47 MST 2018

>From 2012:

"The past four years of world economic crisis have been only the latest
illustration of the bankruptcy of capitalism as an economic system and as a
form of social organisation. But the damage which capitalism causes goes
back a long way – and is certainly not confined to the consequences of its
periodic somersaults.

"Capitalism itself was borne out of the brutal plundering of many of
today’s poorest countries. Without the slave trade which decimated Africa’s
population for over two centuries, the industrial revolution would never
have developed in Britain and British capital would never have seen the
light. Subsequently, since the capitalist market took on its present form,
the world economy has been dominated by the small, but very wealthy
capitalist classes, which ruled the few very rich, imperialist powers. And
these capitalist classes have been drawing their enormous incomes partly
from the exploitation of their domestic working classes, but also, to a
large extent, from the looting of the human and material resources of the
poor countries.

"Whether under colonial rule or not, the poor countries included, and still
include, the majority of the planet’s population. But despite having
contributed so much to the accumulation of wealth of the imperialist
capitalist classes, they got. . ."


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