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The Implosion of Contemporary Capitalism

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Highlights

who governs the development of knowledge in contemporary society? How are those parts of knowledge serviceable to capital chosen and used? — location: 153 ^ref-55049

The process of capital accumulation, which defines capitalism in all its successive historical forms, is therefore driven by the maximization of monopoly/imperialist rent-seeking. — location: 169 ^ref-4061

The strategy of financialized monopolies requires the growth in debt, which they seek rather than combat, as a way to absorb the surplus profit of monopolies. The austerity policies imposed to reduce debt have indeed resulted, as intended, in increasing its volume. — location: 187 ^ref-16478

Does Media Power Exist? — location: 502 ^ref-51372

Need for Media that Work to Re-Politicize Citizens — location: 569 ^ref-48597

The system commonly termed “neoliberalism,” which in fact is the system of financialized, globalized, and generalized monopoly capitalism, is imploding before our eyes. — location: 608 ^ref-55076

be the transformation of imperialist monopoly capitalism (senile) to generalized monopoly capitalism (still more senile for this reason). — location: 1831 ^ref-60337

is a qualitative transformation in response to the second long crisis of the system that began in the 1970s and has still not been solved. — location: 1832 ^ref-31796

its new long systemic crisis, which had begun in the 1971–75 period. — location: 2442 ^ref-14650

The fragmented, and thereby concrete, economic power of bourgeois proprietors gives way to centralized power in the hands of the directors of the monopolies and their salaried administrative staffs. — location: 2482 ^ref-28807

Stockholders, supposed to rule, seem to have power. However, the real sovereigns, who make all the decisions in their name, are the directors of the monopolies. Such administration, in turn, obviates the former modus operandi of competition that used to be the regulatory mechanism for capital accumulation. — location: 2486 ^ref-23502

the reality of the global system has proven that capitalism would result, not in homogenization of economic conditions on that scale, but in its opposite, ever-growing polarization. — location: 2500 ^ref-48630

The onset of systemic crisis in 1975 evoked a deepening of globalization in response (and, for Europe, the construction of a European system within that globalization framework). This led to abandoning the state’s administration of credit and yielding it to the direct power of the monopolies. — location: 2516 ^ref-19384