The West’s tragedy of capital
Here’s a crash course on global finance 2.0. The debt is in the Atlanticist, wealthy North. The resources are in the global South. And the (reluctant) supreme banker of the last resort is the Middle Kingdom, as personified by the Almighty Hu (Jintao).
The name of the game - Marx revisited by Occupy the World - is class struggle. It’s casino capitalism, aka finance turbo-neoliberalism, as practiced by a liquid modernity elite of one per cent, versus the have-a-little-something, have-nots and have-nothing, aka the 99 per cent.
There could not be a more graphic demonstration than last week’s Greek tragedy takeover of the Cannes debt festival of Slavoj Zizek’s thesis that the marriage of capitalism and democracy is over.