Many misconceptions still exist in the mainstream about the ongoing economic crisis in Southern Europe. First, the crisis is often considered a direct result of the 2008 banking sector collapse in the United States, but it is becoming abundantly clear that it is a by-product, an expected outcome, of the current economic system, capitalism, which relies on continuing growth and competition, profit maximization, power and wealth accumulation by the oligarchy, commodification of public goods and resources, and the voracious exploitation of the environment.
Author: Natassa Romanou
Natassa Romanou is a research scientist at NASA-Goddard Institute for Space Studies at Columbia University specifically interested in carbon cycle science. She has written many scientific papers and is a contributing author to the 2013 Intergovernmental Panel for Climate Change Assessment Report. She is an active member of Syriza-New York.
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