Capitalism and the Useful Nation State

"With the global collapse of credit, trade, production, employment, and public finances unfolding since 2007, the typical scramble commenced over who would finally have to bear the burden of the immense social costs flowing from that collapse. Enter the usefulness of the nation state. The state's "national debt" becomes everywhere the means to socialize the costs of private capitalism's crisis. It becomes clearer by the day that it is the mass of the citizenry that is being positioned to bear most of those costs."

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