Abstract
In the world economy the historical conflict between labor and capital is intensifying in the process of the dominance of speculative financial capital. The rise of unemployment in the new global crisis leads to the spread of fear for the existence of the masses. There is a general decline in the share of employees' income in the national income, along with a real decline in salaries and wages. The functioning of globalized capitalism and the creation of the precariat are investigated. The aggravation of the conflict between labor and large speculative capital is the path to a permanent crisis. The relationship between private capital, profit and the welfare state are the basis of new crises in capitalism. A critical finding of the process of privatization and its destructive action in society is needed. A special part of the paper refers to the creation of a dependent and indebted economy, along with the discovery of the mechanism of creation of the debt burden. Finally, it investigates where modern economies and society have led to the devastating concept of neoliberalism, privatization and the separation of labor from capital and the results of development. Key words: economy, privatization, capital, debt economy.
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