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Paul Cockshott — The US crisis

Summary:
Back in 2010 the materialist historian Turchin predicted in an article in Nature that 2020 would see a major outbreak of social disorder in the USA.His work distinguished between the long term stress that a society experiences and short term triggers. The long term stress predisposes a state to social breakdown, riot, insurrection or civil war. Once the society is in a highly stressed state, then some otherwise common event – the killing of an innocent man by the police in this case – can trigger the breakdown. What was remarkable about Turchin is that he took historical materialist ideas [Marx was a historical materialist], dressed in a language to make them acceptable to US academia, and gave them precise quantitative numerical form. He gave social stress a formula.... Paul

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Back in 2010 the materialist historian Turchin predicted in an article in Nature that 2020 would see a major outbreak of social disorder in the USA.

His work distinguished between the long term stress that a society experiences and short term triggers. The long term stress predisposes a state to social breakdown, riot, insurrection or civil war. Once the society is in a highly stressed state, then some otherwise common event – the killing of an innocent man by the police in this case – can trigger the breakdown.
What was remarkable about Turchin is that he took historical materialist ideas [Marx was a historical materialist], dressed in a language to make them acceptable to US academia, and gave them precise quantitative numerical form. He gave social stress a formula....
Paul Cockshott's Blog
The US crisis
Paul Cockshott |Scottish computer scientistMarxian economist and a reader at the University of Glasgow

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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