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Catastrophe in Japan: Capitalism and mass society
Related Articles:
Who is responsible for the nuclear catastrophe in Japan?
Written by Patrick Martin on March 19, 2011Four nuclear reactors are in various stages of crisis and possible meltdown in the wake of the earthquake and tsunami that have devastated the northeastern coastline of Japan. The official death toll hit 3,373 Wednesday morning, Japan time, but that figure is expected to climb to more than 10,000.
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TwitterJapan disaster to intensify global economic contradictions
Written by Nick Beams on March 19, 2011In former “normal” times, the Japanese earthquake disaster would not have led to a global economic and financial crisis. But those days are long gone. In the present situation, it could well be the catalyst that sets off a new stage in the global financial breakdown that began with the collapse of Lehman Brothers in September 2008.
A central banker from the Group of Seven major capitalist economies, who declined to be named, told Reuters: “I think the world economy is going to go right down and it has happened at a time when financial markets are still fragile.”
