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Thinking Politically

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The Climate Movement Must Disrupt the Normal Flows of Fossil Capital

Andreas Malm

The science is eminently clear. Because so much valuable, irretrievable time has been lost, assets have to be stranded. Investments must be written off too early for capitalist taste; on one estimate, the instant suspension of every project in the pipeline would make 2°C achievable only if accompanied by the decommissioning of one-fifth of all power plants running on fossil fuels. That is a lot of already sunk capital.

From Rafael Correa to Guillermo Lasso via Lenin Moreno

Eric Toussaint

The election of Lasso as president opens a new stage in the implementation of policies that will be even more favourable to Ecuadorian Big Capital, to foreign multinational corporations, to an alliance among right-wing presidents in Latin America and to the pursuit or indeed reinforcement of US domination on the continent. The election outcome on 11 April 2021 is a dark signal for the popular side. In order to understand why a significant part of of the popular side refused to vote for Arauz to defeat Lasso, we have to examine the policies implemented by Rafael Correa after he was reelected president in 2010.


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