Capitalist crisis ‘causing war’, pro-capitalists admit

This video from the USA says about itself:

23 July 2012

Nobel Prize-winning economist Joseph Stiglitz argues that U.S. combat in Afghanistan and Iraq helped trigger 2008’s economic collapse. According to Stiglitz, rises in oil prices, a culture of deregulation, and the housing bubble all stem from America’s war involvement.

From British daily The Morning Star:

Capitalist crisis ‘causing war

Tuesday 02 June 2009

by Tom Mellen

The recession creates the conditions for war

A pro-business think tank admitted today that the market meltdown is dragging the world into political instability and conflict.

Publishing its annual Global Peace Index, the Sydney-based Institute for Economics and Peace said that it had established a “clear correlation between the economic crisis and the decline in peace.”

It estimated the economic impact of lost peace on the global economy at $7.2 trillion (£4.3 trillion) per year, contending that $4.8 trillion (£2.9trillion) “would be value-added from business activities that never see the light of day due to violence.”

And a further $2.4 trillion (£1.46 trillion) “relates to the redeployment of resources and expenditure away from industries benefiting from violence to those that benefit from peace.”

Many of the indicators which the institute uses to measure “peacefulness” – a country’s murder rate or its level of military expenditure and the likelihood of violent demonstrations – deteriorated as the world economy crashed.

The report, which was prepared in conjunction with the neoliberal Economist Intelligence Unit, observed that “rapidly rising unemployment, pay freezes and falls in the value of house prices, savings and pensions is causing popular resentment in many countries, with political repercussions.”

2 thoughts on “Capitalist crisis ‘causing war’, pro-capitalists admit

  1. What’s wrong with a 30-hour work week?

    By Don Fitz
    May 30, 2009 — With millions of jobs lost during the first part of
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    Does the UAW have no memory of the 1930s and 1940s when a shorter work
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    * Read more


  2. Michael Lebowitz: ’21st century socialism needs a 21st century

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    Fraser University and author of Build it Now: 21st Century Socialism and
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    * Read more


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