LONDON – Capitalism is facing at least three major crises. A pandemic-induced health crisis has rapidly ignited an economic crisis with yet unknown consequences for financial stability, and all of this is playing out against the backdrop of a climate crisis that cannot be addressed by “business as usual.” Until just two months ago, the news media were full of frightening images of overwhelmed firefighters, not overwhelmed health-care providers.
People love Karl Marx for his coruscating classics The Communist Manifesto and Das Capital. The former he co-authored with Frederic Engels in 1848 formed the basis for the communist movement around the world. They argue capitalism will inevitably self-destruct to be replaced by socialism. The latter, published in 1867, explores the origins, development, and inner workings of the capitalist system, but also extols socialism.
KATHMANDU, May 11: In what smacks of crony capitalism at work, ruling Nepal Communist Party Chairman Pushpa Kamal Dahal has hosted a grand reception at the house of Niraj Gobinda Shrestha, one of the former owners of the Ncell telecommunications company. The party was organized on the occasion of Dahal and his wife Sita's 50th wedding anniversary.