this post was submitted on 28 Apr 2024
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Collapse

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This is the place for discussing the potential collapse of modern civilization and the environment.

Collapse, in this context, refers to the significant loss of an established level or complexity towards a much simpler state. It can occur differently within many areas, orderly or chaotically, and be willing or unwilling. It does not necessarily imply human extinction or a singular, global event. Although, the longer the duration, the more it resembles a ‘decline’ instead of collapse.

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WTF Happened In 1971? (wtfhappenedin1971.com)
submitted 6 months ago* (last edited 6 months ago) by jaxiiruff@lemmy.zip to c/collapse@lemmy.ml
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(kinda) A great website to share if you have no idea how to explain the downfall of the US economy.

Edit: Thanks to everyone who provided insight on this website. I've had this in my bookmarks for a very long time and was curious how it held up.

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[–] knfrmity@lemmygrad.ml 19 points 6 months ago (2 children)

For an actual explanation for what happened in 1971, economically and monetarily at least, go ahead and read Michael Hudson's Superimperialism and Global Fracture. Superimperialism was so prescient at its original publishing that the US government itself used the book and the theory as a manual on how to be better superimperialists right back around 1971, and hired Hudson as a consultant.

I won't comment on the fascist economics presented in the linked website.

[–] queermunist@lemmy.ml 11 points 6 months ago (1 children)

I just read Imperialism: The Highest Stage of Capitalism and I was thinking how US hegemony kind of fulfilled Kautsky's idea of ultra-imperialism, i.e. an imperial cartel of imperial powers that allows total international banking collaboration, but how Lenin was still proved right by the fact that war continued to happen even after the imperialists consolidated their financial empires. War isn't just caused by inter-imperial conflict, imperialism itself requires war to generate superprofits and requires underdevelopment to partake in superexploitation.

Might have to check Superimperialism out.

[–] knfrmity@lemmygrad.ml 7 points 6 months ago

From my reading Hudson's Superimperialism is an more an extension of Lenin's Imperialism, based on how material conditions had evolved over the interim fifty years and the lessons learned from (at initial publication) the first generation or so of US dollar hegemony. To simplify it maybe too much, it adds a monetary dimension to the already established framework of finance capital being the driving force behind imperialism.

Superimperialism is indeed the same English term often used for Kautsky's Überimperialismus hypothesis. Yet apart from the initial parallel of a global cartel, ie. dollar hegemony, I don't see much of Kautsky's ideas represented in Hudson's work, but I'm also not terribly familiar with überimperialism.