The urgent need for a global alternative is therefore not up for debate. But we should hold no illusions. Things will get far, far worse, before they get better. This is not yet the end of capitalism. On the contrary, the biggest financial players, like Goldman Sachs, JP Morgan, and others, have used their power over states to secure massive bailouts using public funds, allowing them to prevail while hundreds of other financial institutions have fallen like dominos. As the collapse of the financial system pulls down the real economy, shares in giant corporations which actually produce tangible goods and services have plummeted as consumers are clinging to their increasingly empty wallets. Taking advantage of their supreme position, financiers have moved in fast, buying up the cheaper shares and consolidating ownership of production. We are witnessing an unprecedented re-structuring and centralization of economic and financial power.
Yet the system has perhaps another 10-15 years before irreversible collapse as the impact of peak oil kicks in. In this time-frame, as working people are increasingly upset, confused and angry about the acceleration of socio-economic injustice, activists and researchers have unprecedented opportunity to work harder than ever to develop a vision for the future that is just, inclusive and holistic. The time to prove that there are meaningful alternatives is now.
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