Friday, September 25, 2020
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Global Rebellion: The Coming Chaos

As the crisis of global capitalism spirals out of control, the powers that be in the global system appear to be adrift and unable to propose viable solutions. From the slaughter of dozens of young protesters by the army in Egypt to the brutal repression of the Occupy movement in the United States, and the water cannons brandished by the militarised police in Chile against students and workers, states and ruling classes are unable to hold back the tide of worldwide popular rebellion and must resort to ever more generalized repression.

Simply put, the immense structural inequalities of the global political economy can no longer be contained through consensual mechanisms of social control. The ruling classes have lost legitimacy; we are witnessing a breakdown of ruling-class hegemony on a world scale.

To understand what is happening in this second decade of the new century we need to see the big picture in historic and structural context. Global elites had hoped and expected that the "Great Depression" that began with the mortgage crisis and the collapse of the global financial newsystem in 2008 would be a cyclical downturn that could be resolved through state-sponsored bailouts and stimulus packages. But it has become clear that this is a structural crisis, in which the solution involves the end of the system itself, either through its supersession and the creation of an entirely new system, or its collapse.