In their desperate search for profitable fields of investment, the capitalist class, especially the financial oligarchy, has presided over an explosive growth of unproductive expenditure that today threatens to undermine the very edifice of capitalism. As more and more surplus value is siphoned off into unproductive activities, the issue of “productive” and “unproductive” labour has once again resurfaced as a factor contributing to, and a reflection of, the present terminal decline of world capitalism.
The Austrian attack on Serbia did not lead immediately to war with Russia. In St. Petersburg the generals were impatient to take action. However, Russian foreign minister Sazonov seems not to have shared the blind confidence of his generals. He feared the effects of war on the unstable political situation in Russia and was not convinced that the Russian army could win in a conflict with the formidable German military machine.
Self-styled philosophers of the post-modernist kind deny the possibility of finding any rational explanations for human history. It is alleged that there are no general laws, no objective factors that lie behind the conduct of individuals and determine their psychology and behaviour. From this standpoint – the standpoint of extreme subjectivity – all history is determined by individuals acting according to their own free will. To attempt to find some inner logic in this turbulent and lawless sea would be as futile an exercise as to try to predict the precise momentum and position of an individual subatomic particle.
One hundred years ago, on 28 June 1914 two pistol shots shattered the peace of a sunny afternoon in Sarajevo. Those shots reverberated around Europe and shattered the peace of the whole world.
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