Capitalism is in Crisis!

This was a phrase that I had the opportunity to use twice yesterday - what joy! 

Of course the economic situation isn't a joke, or a joy, but I suppose my residual Marxism is rejoicing to see Marx's economic analysis of capitalism being vindicated.   Alexander said last night that Marx's analysis of capitalism was right - but that his ideas about revolution were wrong.  I found this the sort of idea I would agree with, if I was knowledgable enough to know whether it was correct (it seems on the surface that M's analysis of revolution and predictions - were wrong - or that we have had the "wrong kind of" revolutions). 

The first time I used the phrase was with Sue Kennedy - we chorused it when we were discussing the situation. 

Alex was interesting because he belongs to a webgroup of former BBC journalists - and I heard their analysis of the BBC's current news agenda/output.  He said there was a great deal of a critique about Robert Peston, the economics correspondent - whom I abhor.  He pointed out that all RP's info about the state of the economy comes from bankers and so on, I have certainly noticed how right-wing his analysis is - certainly RP's reliance on the people who have done so much to bring us to this point is really rather ludicrous, if one is looking for a proper analysis.  It is as if you were attempting to understand cannibalism, and only interviewing cannibals.   What do they know of capitalism, who only capitalism know? 

A also poinbted out that the word "capitalism" is never used.   We now talk about the market - a cosy place, full of groaning trestle tables covered with brilliant vegetables and loveable peasant farmers - the market is safe, it's local - we know all about markets don't we?    Only of course, what we really mean is capitalism, which is big, distant, alien and global and we can have very little influence on it.   But as Mark has just pointed out, phrases like "the market decides" sound democratic - as though some local people have got together and decided to do something. Things have got to such a state in the media that if you want to hear any kind of critique of capitalism, you need to listen to You and Yours rather than the Today programme.  Of course I am only talking about Radio 4 which is all I listen to really.  But my excuse is that it is more influential amongst what used to be called the chattering classes than anything else.

For years however, I have been very conscious that the BBC is not providing a full analysis of what is happening in the world - its agenda is limited, establishment focussed.  Perhaps that's inevitable, but what is the alternative?  I am going to start reading the Guardian again - not just the sudoku!  But I have no patience with Marxist media - even if there were any - in the past I found their analyses either simplistic or over-torturously academic.  The fact is, no one knows the answer, Marx's critique was good - his solutions probably not...

Whether my instincts towards green/limits-to-growth economics will ever be held more widely is dubious.  Sue and I were discussing this yesterday. Quite frankly, to embrace such a lifestyle means looking at unpleasant realities - and accepting them as true.  Most people do not wish to accept the reality of climate change, let alone dream of trying to limit consumption.  The fact is, people would always rather believe the easy thing.  Thanet Council would rather believe that night-flights would miraculously bring in 100s of jobs to Thanet.   They want to believe in magic - so much easier to believe this than confront the real problem that we have sadly an under-educated, under-skilled workforce.

Oh boy, comrades, capitalism is in crisis - and most of us are too limited to try and do anything about it.