The Financial Crises Of 2008 - 1701 Words

We are now in a state of experimentation, ‘in which the conjuncture of the strange and the familiar, of the stasis and metaporphosis, plays tricks on our perceptions, our positions, our praxis.’ (Comparoff Pg.3). The Financial crises of 2008 has had a major impact on the lives of individuals, for some it has been beneficial for others dire. Many people no longer have faith in the ‘capitalism that presents itself as a gospel of salvation’ (comaroff review, find) and are embracing alternatives to lassaire faire capitalism. The crises has seen the rise of anti-capitalist movements such as ( people before profit) offering an alternative vision to mainstream capitalism. In the EU the crises has forced people to look at alternative solutions,†¦show more content†¦In this essay I will argue that although socialism in large has been rightfully/justly dismissed considering its inadequate/often disfavoured implementation in real life, the political and econom ic problems of capitalism (which will vary depending on perspective/viewpoint), can be alleviated to some extent with the guidance/use/help/implementation of particular socialist ideals such as redistribution of wealth and?. I will first consider the historical background of capitalism and socialism. I will then show the relevance of this question today as I look at how the financial crises has led many people to realise the unsustainability and other numerous political and economic problems of capitalism, and then will go on to address those problems. Following this, I will look at the anti-capitalist movements that are popular today and examine/evaluate socialist theory and how it aims to solve the problems of capitalism. I will then try to understand where socialism has gone wrong, using ethnographic examples and examine if it is an adequate system for solving pol/eco problems of capitalism. I will finally show how, if we look at where it has failed before and look at what academ ics have proposed (in a reformulation of theory, taking account of past empirical examples, and carefully selecting the best..) as a way forward in this time of experimentation and inform the development of a new and relevant political economy for our times (Change). Following