The 2020 Coronavirus Economic Crash and The Crisis of Capitalism by Rainer Shea + Richard Wolff: This Is Like Nothing Ever Experienced

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Image by Francis Clarke via Flickr

by Rainer Shea
Writer, Dandelion Salad
Rainer Shea: Anti-Imperialist Journalist, Mar. 17, 2020
March 18, 2020

The global economic crash that we’ve entered into is going to be more disastrous for capitalism than was the case for the Great Depression. This is because now, the system has no way to stabilize itself amid the widespread impoverishment and loss of profits that will ensue. After the Great Depression, the United States and the other core imperialist countries moved towards welfare statism, neutralizing the class conflict that had been arising amid the crisis. But no such fix will come during this even greater shock to the system.

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