Gilded Age

THE ACCOUNT OF HISTORY is the theory of the present: How did we get here; and what tasks remain from the past – that however appear to be “new” today? As Adorno put it, “the new is the old in distress.”1 This is true of capitalism and its crisis now. The present crisis is a crisis of the world system of capitalism that emerged in the 20th century, a crisis of the capitalist world created by the Second Industrial Revolution at the end of the 19th century – in fits and starts (such as the two World Wars and the Cold War) but nonetheless consistently and inexorably. [Read More]