The “disintegration” of global capitalism could unleash world war 3, warns top EU economist
Seeing the systemic roots of this risk can help us avert catastrophe and build resilience
By Nafeez Ahmed
Published by INSURGE INTELLIGENCE, a crowdfunded investigative journalism project for people and planet. Please support us to keep digging where others fear to tread.
A senior European Commission economist has warned that a Third World War is an extremely “high probability” in coming years due to the disintegration of global capitalism.
In a working paper published last month, Professor Gerhard Hanappi argued that since the 2008 financial crash, the global economy has moved away from “integrated” capitalism into a “disintegrating” shift marked by the same sorts of trends which preceded previous world wars.
Professor Hanappi is Jean Monnet Chair for Political Economy of European Integration — an European Commission appointment — at the Institute for Mathematical Models in Economics at the Vienna University of Technology. He also sits on the management committee of the Systemic Risks expert group in the EU-funded…
