Two Crises

By: Michael A. McCarthy

Capitalism routinely creates crises for the working class. To transform society, we need to create a crisis for capitalists.

There are two types of capitalist crisis.

One type, the one most debated among political economists, is caused by firms and individuals going about business as usual and inadvertently driving profit decline and recession. In this instance, crisis is internally caused, by capitalism’s own regularities and uncoordinated by extramarket forces.

But there’s also another type, the kind that used to keep the rich up at night: the kind of crisis caused by average people disrupting business as usual.

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There are two types of capitalist crisis. One type, the one most debated among political economists, is caused by firms and individuals going about business as usual and inadvertently driving profit decline and recession. In this instance, crisis is internally caused, by capitalism’s own regularities and uncoordinated by extramarket forces. But there’s also another type, the kind that used to keep the rich up at night: the kind of crisis...

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