A Cacophony of Crises: Systemic Failure and Reasserting People's Rights

Abstract
A cacophony of crises challenges neoliberalism and marks a fundamental reversal in capitalism itself. This is a systemic failure of the capitalist mode of
production to renovate and renew itself through a multiplicity of environmental and resource crises and the financial crises which has important links with the
real economy. Capitalism cannot survive by simply inventing new institutions – global or national – or by shifting to another phase. New nationalisms and
protectionisms loom on the horizon, while darker shades of xenophobia are another possible scenario. A further possibility lies in the emergence of informalized labor markets and economies as a result of the last phase of neoliberal globalization. Informalization or disposessed surplus labor
has some revolutionary potential. The paper discusses various alternatives
based on the new economy of the informalized sectors