Last night I heard a public conversation between the Marxist Geographer David Harvey and Alexander Cockburn the editor of CounterPunch and columnist with The Nation. The conversation titled, ‘The End or Future of Capitalism’ was hosted by The Center for Place, Culture & Politics. Cockburn opened the conversation by speaking about the lack of vision in the Left. Harvey argued that the capitalist system was facing tremendous stress and that a different path of economic development had to be envisioned. Harvey continued on the end of capitalism as one needing analysis in terms of how this crisis arose with the problem of accumulation and realization of surplus, and poses the question of what is to be done? Central to Harvey’s argument is that the mounting stress seen at the centre of the capitalist system in the last three decades is the culmination of the inability to sustain the two and a half percent compounded accumulation that has been a characteristic of global capital over the last couple hundred years. That the capitalist system is unable to find productive investments for the two and a half percent accumulation rate leading to repetitious and aggravating crises in the unproductive bubbles in financial assets.
I stood in line when the floor was open, but much to my disappointment the moderator had brought the conversation to an end before I could ask my question, and so I am going to ask it here. Both Harvey and Cockburn talked about the urgency of the moment and the need for provocative questions from the Left. But what is the more urgent question to ask at this moment? Is it the end or future of capitalism? Or is it the end or future of the American Empire? The two may well be related and even two sides of the same coin, but the question for me is influenced by the urgency of the situation in our region; the war in Afghanistan and Pakistan. The relatedness of the two questions also leads me to ask what would be the consequence of the tremendous stress at the centre of the capitalist system on the wars fought at the periphery of Empire? And in turn, what is the impact of the tremendous stress of the wars on the periphery for the hegemonic centre of the capitalist system?
Continue reading The End or Future of Capitalism and Ending Obama’s War

There have been so many ragging incidents coming out in the news, but the media is done with ragging and there’s no hype beyond the singular news report. It would be a mistake to presume that there’s been a spurt in ragging incidents; the spurt has instead been in the reporting of incidents, in punishment and implementation of the law.