Global Capitalism Has Become Dependent on War-Making to Sustain Itself

Claud Mccoid

William I. Robinson,  Distinguished Professor of Sociology, Worldwide Experiments and Latin American Reports at the College of California at Santa Barbara  –  truthout

Stephan: Eisenhower warned us, but couple of listened, and now the military services-industrial intricate has turn into a dominant component in our economy as described in this report.

The Pentagon, as noticed from an plane above Washington, D.C., on February 19, 2020.
Credit history: Xinhua / Liu Jie / Getty

The Russian invasion of Ukraine has sparked intense political debate on the geopolitical outcomes of the conflict. But considerably less observed and similarly as essential, the war has paved the way for a more sweeping militarization of what was currently a international war financial state mired in deep political and economic crisis. Geopolitical tensions and intercontinental conflicts may perhaps be tragic for these caught up in conflagrations this sort of as in Ukraine — but beneficial for those in search of to legitimize expanding army and security budgets and open up up new alternatives for capitalist earnings-creating in the encounter of chronic stagnation and social discontent.

In late March, the Biden administration, citing the Russian invasion, identified as for a&#160$31 billion increase&#160in the Pentagon budget around the previous year and on major of an crisis appropriation weeks previously of $14 billion for Ukraine’s defense. Prior to the invasion, in late 2021, the U.S. government […]

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Editor’s observe: This article was revealed in the Record-Eagle’s Momentum ’22 distinctive publication. For far more tales from northern Michigan’s economic engine, click here to go through Momentum in its entirety on the internet. TRAVERSE Town — The legislation of source and demand from customers procedures in the Traverse Metropolis housing market place. […]