Farewell to Harry Magdoff

"Assuming it was relatively justified to call the capitalist order a system of »productive destruction«… but today that would be a dangerous self-delusion we have to part with. We should not misunderstand the capitalist order in an era when we – reflecting the consequences of the historical developments emerging at the end of the 20th century caused by the structural crisis of the whole capitalist system – have to inevitably face the devastation of destructive production and its catastrophic force, in other words reality, which is the utter opposite of the idealised »productive destruction."