“The ideological dominance of capitalism as the only feasible mode of production is coming to an end. In the second half of the 1970s, when rapid and stable economic growth came to a halt in the “developed” world, the forces of capital intensified their attack on workers’ rights that has not ceased to this day. The foundation on which the ideological domination of capitalism was based had started to wither away, and the advocates of capitalism increasingly justified its existence by turning to the mere fact of its existence.
The fact that unlike really existing socialisms, capitalism has not collapsed – although it had to be rescued by fascist gangs and military juntas many times – underpinned the claim that there simply is no alternative and that we must accept any sacrifice in the name of capital accumulation. If growing inequality, poverty of the majority of the world population, terror of dictators and devastation of nature are the price to be paid for capital to flourish, then so be it.
Attempts to resolve the current crisis confirm that in capitalism the economy does not serve to enhance the quality of life, but quite the opposite, human life serves to expand capital accumulation.”
The whole text of the article, here.