Carnage in the Markets: Coronavirus bites Capitalism’s Achilles Heel

The Secular Jurist

By Robert A. Vella

It happened in 1637, 1720, 1769, 1772, 1791, 1796, 1819, 1825, 1837, 1847, 1857, 1866, 1869, 1873, 1882, 1884, 1890, 1893, 1896, 1901, 1907, 1929, 1937, 1962, 1971, 1973, 1982, 1987, 1989, 1990, 1991, 1992, 1997, 1998, 2000, 2001, 2002, 2007, 2008, 2009, 2010, 2011, 2015, 2018, and now it’s happening again in 2020 (the worst ones in the U.S. are listed in bold).  I’m talking about market crashes, recessions, and depressions.  I’m talking about capitalism’s Achilles Heel, the repeating cycle of economic boom and bust which makes a few into billionaires and sends many into poverty.  Is this the best we can do?  Is such volatility really a good thing?

There are 7.8 billion people on this planet, far too many for Earth’s fragile ecosystems which are rapidly deteriorating from both our excessive numbers and from our

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