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By Garry Leech

Within the wake of the worldwide monetary challenge and ongoing savage executive spending cuts internationally, Garry Leech addresses a urgent and worthy subject: the character of latest capitalism and the way it inherently generates inequality and structural violence. Drawing on interesting case experiences, together with the compelled dispossession of farmers in India and Mexico, and deaths from preventable ailments in sub-Saharan Africa, Leech provocatively argues that worldwide capitalism constitutes a kind of genocide opposed to the negative, relatively within the international South. crucial and eye-opening, Capitalism: A Structural Genocide questions the legitimacy of a process that unavoidably ends up in such large-scale human affliction, whereas going past mere critique to provide a extra egalitarian, democratic and sustainable worldwide replacement.

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Extra resources for Capitalism: A Structural Genocide

Sample text

But it is a system that works for the entrepreneurs, who by and large make hefty profits, and for the affluent, but it penalises almost everyone else to the point of somewhere between 4 and 6 million foreclosures in the case of housing in the USa (and countless more in Spain and many other countries). The political choice is between a commodified system that serves the rich well enough and a system that focuses on the production and democratic provision of use values for all without any mediations of the market.

In the case of gold and silver as representations of social value, we see that we are taking the particular circumstances for the production of those precious metals as a general measure of the value congealed in all commodities. We in effect take a particular use value (the metal gold) and use it to represent exchange value in general. above all, we take something that is inherently social and represent it in such a way that it can be appropriated as a form of social power by private persons. This last contradiction has deep and in some ways devastating consequences for the contradictions of capital.

This is what makes money as a measure so special and so odd. Whereas other standard measures, like inches and kilos, cannot be bought and sold in themselves (i can only buy kilos of potatoes, not kilos full stop), money can be bought and sold in itself as money capital (i can buy the use of $100 for a certain period of time). The simplest way to conjure up a material representation for value is to select one commodity as the value representative for all the rest. For a variety of reasons, the precious metals, gold and silver in particular, emerged historically as best suited to fulfil this role.

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