Capitalism Has Become Socially Dysfunctional
Paul Craig Roberts
If you have not read John Perkins’ book, Confessions Of An Economic Hit Man, you should. The book is easy to read and explains clearly from the inside how US corporations deceive foreign governments into debts that they cannot service or repay and then use the IMF and World Bank as looting mechanisms and reduce the indebted countries to penury.
Capitalism has become a socially dysfunctional system focused on pillage and not on the growth of consumer income that sustains and grows markets for goods and services. Once the last prospect is looted, there is nothing left to sustain capitalism.
In this interview John Perkins describes the looting process in Greece. Tomorrow the Greek people face the same decision that the people in Iceland and Ireland faced. In Iceland the people rejected the debts and refused to pay them. Now Iceland is recovering. Somehow the feisty Irish were brainwashed into accepting austerity programs so that the looting of Ireland could continue, and Ireland continues to suffer. Sunday will tell us if Greeks have learned from the examples.