The Big Crisis of Capitalism

Frank Deppe will discuss the relationship between capitalism and the crisis as well as the specifics of the current "big crisis" in comparison with those of the past. The "limits to capital", which become apparent in big crises, are at present marked by the dominance of financial capitalism and the entanglement of various crisis trends (financial crisis, over-accumulation crisis, fiscal crisis, environmental crisis, food crisis etc.). The "multiple crisis" also becomes apparent in the prevailing anti-crisis strategies: Austerity policy is focused towards stabilizing the dominance of financial markets. This creates further crisis processes, especially in the countries of the periphery, which are on the verge of insolvency. At the same time, the processes of unequal development are exacerbated - globally and in the EU. This promotes nationalist and racist tendencies in the public that benefit right-wing parties and movements. Frank Deppe will therefore also discuss the relationship between the big crisis, austerity politics and the crisis of democracy - the shift to an "authoritarian capitalism".