These considerations follow, inter alia
, from the crisis of 2007–2009. Of course, there were objective premises for the crisis a decade ago: both cyclical price movements and stock market bubbles, which arise periodically and inevitably – and which burst just as inevitably. However, if everyone had done what they were supposed to have done, as prescribed by a sense of duty and conscience, such a crisis could have been averted. Candid recognition of this fact can be found in the well-known landmark report from the Financial Crisis Inquiry Commission
. Furthermore, virtually everyone who wrote seriously and in detail on the financial crisis remarked that the scale of abuse and downright deception in this sphere had grown openly and substantially over the course of two decades leading up to the crisis.
Today, at the start of 2019, the key issue is that all the monstrous phenomena identified as the direct causes of the financial crisis ten years ago – which include the dependence of jobs and income in developed countries on the volatility of the financial markets, lax regulation, the dominance of the financial lobby, and the irresponsibility and impunity of senior management – are not only still in place, but are also growing. This demonstrates that the roots of the problem remain and that the situation, to all intents and purposes, has not changed.
Therefore, it needs to be acknowledged that in this time of a fourth industrial revolution and the profound qualitative changes in the socio-political life of society, the economic and social model that now holds sway in the developed world is far from as perfect as one might be led to believe. If society and the state are incapable of fulfilling their functions to secure a safe and prosperous future, it is not because people have become worse, in that 'they have left God behind', 'they have no conscience', etc. It is because the economy is now different and the outside world has changed, while politicians and ruling elites, judging by the decisions that they have made, have not only failed to eliminate the causes of previous crises, but have also qualitatively failed to grasp the new trends in global economic and political developments.
To put it succinctly, the root cause of the approaching crisis is not only to be found in cyclically recurring problems, but also in the qualitative shift that has changed the face and nature of capitalism today (to find out more about these changes, please see Realeconomik: The Hidden Cause of the Great Recession
, Yale University Press, 2011). These upheavals not only leave their mark on the economy. Combined with the fruits of the fourth industrial revolution, they are altering humanity itself. Failure to acknowledge these upheavals makes it impossible to avoid global economic crises, or even to rule out the possibility of large-scale war. It also makes it impossible to engage in the conscious construction and active creation of our future.