Global capitalism and 21st century fascism - Opinion - Al Jazeera English:
"By the late 1990s, the system entered into chronic crisis. Sharp social polarisation and escalating inequality helped generate a deep crisis of over-accumulation. The extreme concentration of the planet's wealth in the hands of the few and the accelerated impoverishment, and dispossession of the majority, even forced participants in the 2011 World Economic Forum's annual meeting in Davos to acknowledge that the gap between the rich and the poor worldwide is "the most serious challenge in the world" and is "raising the spectre of worldwide instability and civil wars."
Global inequalities and the impoverishment of broad majorities mean that transnational capitals cannot find productive outlets to unload the enormous amounts of surplus it has accumulated. By the 21st century, the TCC turned to several mechanisms to sustain global accumulation, or profit making, in the face of this crisis."
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