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The Failure of Global Capitalism: From Cape Breton to Colombia and Beyond

by Terry Gibbs

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What do Cape Breton and Colombia have in common? Coal for one thing. Coal mining was the backbone for Cape Breton’s industrial economy for more than one hundred years, but the last mine was closed in 2001 when the province’s utility company took advantage of neoliberal globalization by importing coal –from Colombia. Colombia and Cape Breton represent the loss of well-paid, unionized industrial jobs as a result of neolibral globalization of capitalist system: militant labour struggles, repression, economic insecurity, population displacement, social inequality and environmental devastation. The Failure of Global Capitalism uses the examples of Cape Breton and Colombia to illustrate the harsh realities suffered by people throughout the global North and the global South under neolibral globalization, particularly with regard to socio-economics and environmental issues. Ultimately expose the failure to industrial capitalism, and look toward more sustainable and egalitarian alternatives.… (more)
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What do Cape Breton and Colombia have in common? Coal for one thing. Coal mining was the backbone for Cape Breton’s industrial economy for more than one hundred years, but the last mine was closed in 2001 when the province’s utility company took advantage of neoliberal globalization by importing coal –from Colombia. Colombia and Cape Breton represent the loss of well-paid, unionized industrial jobs as a result of neolibral globalization of capitalist system: militant labour struggles, repression, economic insecurity, population displacement, social inequality and environmental devastation. The Failure of Global Capitalism uses the examples of Cape Breton and Colombia to illustrate the harsh realities suffered by people throughout the global North and the global South under neolibral globalization, particularly with regard to socio-economics and environmental issues. Ultimately expose the failure to industrial capitalism, and look toward more sustainable and egalitarian alternatives.

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