by Matt Smyth, Professor at Strasbourg University

Confronted with the downfall of financialised global capitalism, it would appear necessary in the eyes of its leaders to offer some kind of alternative—even a mythical one—that nevertheless allows for the continuity of the professional managerial class to which they belong.

The process which the global financialised economy is currently undergoing since March 2020 seems to indicate that its governance has begun carrying out a gigantic contraction of the world’s economy.

The virtual annihilation of small and independent businesses is planned, and even that of a large part of big industries. According to a short video from the World Economic Forum, Can the Economy Grow Forever?, most businesses must be shut down in order to switch to ‘post-growth to save the planet’ (under the guidance of AI!).

According to our policymakers, small and medium businesses have to step aside in favour…