This is the best answer. Historically whenever there has been a crisis of overproduction/underconsumption, the capitalists generally responded by either destroying peripheral economies to “open up” new markets, or destroyed one of their own to feed on it like cannibal vultures. “Growth” is not so much the objective any more, just consolidation of monopolies, so they can afford to destroy (“ungrow”) quite a bunch if it means that they’ll stand to be on top.
And we can see this clearly happening today, as they are facing more and more difficulties in halting or turning back the progress of the global south, they have opted instead for the easier option which is dismantling the European economy instead which is turning Europe into a new neocolonial region for US capital to siphon wealth out of.
This is the best answer. Historically whenever there has been a crisis of overproduction/underconsumption, the capitalists generally responded by either destroying peripheral economies to “open up” new markets, or destroyed one of their own to feed on it like cannibal vultures. “Growth” is not so much the objective any more, just consolidation of monopolies, so they can afford to destroy (“ungrow”) quite a bunch if it means that they’ll stand to be on top.
And we can see this clearly happening today, as they are facing more and more difficulties in halting or turning back the progress of the global south, they have opted instead for the easier option which is dismantling the European economy instead which is turning Europe into a new neocolonial region for US capital to siphon wealth out of.