Immanuel Wallerstein – The Worst is Yet to Come

To quote him, ‘the worst is yet to come.’ I am not a doomsayer but Immanuel Wallerstein is a much respected economist, credited for World Systems Theory. I would usually stray away from predictions about economic matters but Wallerstein is absolutely correct that the crisis is not over–booms and bursts are inherent in the capitalist mode of production. And our political leaders are doing nothing that could prevent another financial collapse.