The Coronavirus Crisis Exposes How Fragile Capitalism Already Was

In my latest piece for Labor Notes, I argue that the pandemic didn’t cause the economy to crash: it was only a trigger. You could say that the real economy was already immune-compromised and had little ability to withstand disruption.

The pandemic is exposing just how dysfunctional our economic system was to begin with. Capitalism is ideologically based on the principles of individualism and competition, but it becomes completely clear in a pandemic that what’s needed is solidarity: collective solutions that help everyone.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s