Why has capitalism failed?

Apologists for capitalism argue that it is the best, most-efficient system that could ever possibly exist. But the current period of crisis and chaos prove otherwise. Today, the COVID-19 pandemic has triggered an economic collapse that threatens to throw society back to the 1930s, sending the world into a full-blown depression. Clearly, something is rotten at the heart of the system. The advocates of Keynesian ideas - or modern varieties like Modern Monetary Theory - cannot provide a real solution to this crisis. In his talk from this year's International Marxist University, Adam Booth, a leading activist of Socialist Appeal, explains why capitalism has failed, and what the way forward is for humanity.


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