There are people on the left who think the mere addition of
the word "systemic" transforms a banal statement about
capitalism into a cogent analysis. They're an embarrassment
to the rest of us on the left.
Most intelligent people who comment on the capitalist system
realise it's redundant to use the word "systemic", as
you're already talking about a system. You wouldn't
say, "the systemic failure of the system".
That would be stupid, right?
David Cromwell (of Medialens), however, seems to think he's impressing
journalists with this stuff. These quotes are from two
emails he's recently sent to Hamish McRae of the Independent:
...In other words, the financial system,
and the wider global economy, is systemically
unstable; indeed, inherently inequitable. I'm wondering why
you appear to reject such a rational analysis. (Email 1)
...There's plenty of evidence that what's happening in
"the world as it is", is a systemic
crisis in the global capitalist system. Such
a clear-sighted, rational approach will enable us to better
"understand and calibrate what is actually happening."
...Don't you think such a systemic appraisal
is worth a leap of exploration in one of your columns? (Email
I'm pretty sure mainstream journalists will sit up and pay attention
to these original, genius-level insights into capitalist economics...
if they can stop laughing, for a moment, at Cromwell's astonishing
combination of pomposity and ineptitude.