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351 pages, Kindle Edition
First published January 1, 2014
That it has done so over the last forty years by some mix of labour-saving technological changes and an alleatory globalisation is obvious even as conditions of fiercer international competition have put downward pressures upon profit rates in spite of rising rates of exploitation of labour power.
I do not preclude apocalyptic-seeming moments in this process. The frequency of severe weather events is increasing, for example. But catastrophic localised events can readily be accommodated by capital since a predatory ‘disaster capitalism’ is raring to respond. Capital in fact thrives upon and evolves through the volatility of localised environmental disasters. Not only do these create new business opportunities. They also provide a convenient mask to hide capital’s own failings: it is that unpredictable, capricious and wilful shrew called ‘mother nature’ who is to blame for misfortunes that are largely of capital’s making.