Pushing back against Capital’s Devaluation: Workers versus Eco-Destructive Multinational Corporations
Caravanserai Pushing Back Against Capital’s Devaluation: Workers versus Eco-Destructive Multinational Corporations Patrick Bond May 1, 2026 The overaccumulation of capital at the world scale has never been worse in absolute terms. Capital is especially frenetic within the feral financial markets, amplifying extreme uneven development across the world system, but especially in the periphery and even middle-income Asia, as a result of the accompanying geopolitical stresses. Although the excess of capacity of productive capitals, in this cycle, is mainly emanating from the east coast of China , David Harvey has described the most visible and volatile aspect of overaccumulation as, more generally, a “surplus of liquidity sloshing around in the world’s money markets. The rising mass of money seeking opportunities for ‘productive’ investment is harder and harder to accommodate.” The logic of over-accumulated capital includes not only displacing the problem across space and time, i.e. th...