,! ,UNIV]SAL ,CRISIS 

,PEOPLE 3 

,AU?OR 3 ,ANTON ,PANNEKOEK 

,TEXT 3 

,S\RCE3 ,A ,PANNEKOEK1 0,! ,UNIV]SAL ,CRISIS0 ,! ,CALL1 #e ,FEBRU>Y #a#i#b1 P4#b2 TRANSLAT$ FROM ,ESP]ANTO ORIG9AL 9 ,9T]NACIA ,SOCIA ,REV]O4 
,TRANSCRIB$3 BY ,T$ ,CRAW=D4 

,! CAPITALI/ SY/EM1 IS 9 ITS DEA? ?ROES2 ITS 5D HAS COMM5C$4 

,! WORLD WIDE W> DE/ROY$ ! PRODUCTIVE P[]S ( ,EUROPE1 DRA9$ ! 
LIFE BLOOD ( ! PEOPLES1 & BURD5$ ! /ATES ) GIGANTIC W> DEBTS4 ,MANY 
PEOPLE1 :5 ! W> F9I%$1 BELIEV$ ?AT ! VICTORI\S C\NTRIES1 AT LEA/1 
C\LD EXPECT A P]IOD ( EXPANSION & RECOV]Y1 DUR+ :I* CAPITALISM W\LD 
BE REBUILT4 ,BUT TODAY IT IS DE> ?AT IT WILL BE IMPOSSIBLE TO REBUILD IT4 ,9 
! CONQU]$ C\NTRIES1 /RIPP$ B>E BY ! VICTORS1 ECONOMIC /AGNATION & 
SOCIAL RU9 BECOMES 9CREAS+LY 9T5SIFI$4 ,FROM !M ! P>ALYZES DEVELOPS 
WE/W>D - TO ,FRANCE1 TO ,5GL&1 TO ! NEUTRALS1 TO ,AM]ICA4 
,9T]COMMUNICATION HAS BECOME DISORGANIZ$2 ! LACK ( RAW MAT]IALS MAKES ! 
RECON/RUCTION ( 9DU/RY IMPOSSIBLE1 &1 BECAUSE ( ! LACK ( MAN-P[] & 
( MANURES1 ! H>VE/S >E NOT SUFFICI5T TO MEET ! NE$S ( ! PEOPLE4 
,/ILL MORE GRAVE1 IS ! *AOS 9 ! CURR5CY4 ,UND] CAPITALISM 9 NORMAL TIMES 
MONEY IS ! OIL ( ! SOCIAL MA*9E1 ! 9/RUM5T ( EV]Y ECONOMIC 
TRANSACTION4 ,TO-DAY ! UNC]TA9TY (1 ! EX*ANGES P>ALYZES ! N]VES ( 
CAPITALI/ PRODUCTION - ! CR$IT SY/EM4 ,! EV]-M\NT+ PRICE ( 
COMMODITIES AS ONLY ONE ( ! SYMPTOMS ( ! ECONOMIC DISLOCATION4 ,! MIDDLE 
CLASSES >E R$UC$ TO ! POSITION ( PROLET>IANS BY ! HI< PRICES1 :ILE 
! MASSES !MSELVES >E =C$ D[N 9TO /ILL DEEP] MIS]Y4 ,IF ! 
PUR*AS+ P[] ( MONEY DECREASES1 ! WORK]S >E COMPELL$ BY MEANS ( 
/RIKES TO DEF5D !IR /&>D ( LIV+1 &1 BECAUSE ( ?AT1 ! CONFLICTS 
BETWE51 CAPITAL & LABOR GR[ EV] MORE ACUTE & MORE WIDELY SPREAD4 

,:AT DOES ?AT MEAN8 ,! ,AM]ICAN BANK] ,W>BURG SAYS3 0,EUROPE IS 
BANKRUPT40 ,9 O!R WORDS1 ,CAPITALISM IS COLLAPS+4 

,IT IS ONLY POSSIBLE TO UND]/& ! DEEP] CAUS$ ( ?IS BY ! TEA*+S 
( ,M>X CONC]N+ ! ESS5TIAL *>ACT] ( ,CAPITALISM4 ,ALL ! SOLUTIONS 
ADVANC$2 ,/ATE CONTROL ( PRICES2 9CREASE ( PRODUCTION BY MEANS ( MORE 
9T5SE & LONG] LABOR ON ! P>T ( ! WORK]S2 ! RE/ORATION ( FREE 
EX*ANGE2 EA* & EV]Y1 DEVICE PUT =W>D 9 ORD] TO SAVE ! PRES5T ORD] 
( ?+S1 APPE>S AS SO MU* PITIFUL NONS5SE 9 ! LI<T ( ,M>XI/ !ORY 
CONC]N+ ! ME*ANISM ( CAPITALI/ PRODUCTION & CIRCULATION4 ,?AT 
PRODUCTION IS NOT = USE1 BUT = PR(IT4 ,EV]Y BUS9ESS 5T]PRISE IS1 TO-DAY1 
P>ALYZ$ AT ITS COMM5CEM5T BY ! DIFFICULTY ( SELL+ ITS PRODUCTS1 EV5 
:5 IT SUCCE$S 9 BREAK+ D[N ! B>RI]S CAUS$ BY BURN+S1 BY /RIKES1 
& BY ! DIFFICULTIES ( COMMUNICATION1 ETC4 ,BECAUSE ,G]MANY CANNOT BUY1 
,5GL& CANNOT SELL1 & SO ! CRISIS SPREADS ?R\<\T ! :OLE 
0CIVILIZ$0 WORLD4 ,9 ,AM]ICA HUGE QUANTITIES ( GOODS >E TO BE 
F\ND1 BUT ,EUROPE CANNOT BUY BECAUSE ( ! 9CREAS$ VALUE1 9 ,EUROPEAN MONEY1 
( ! DOLL>1 & ALSO BECAUSE ( ! HI< CO/ ( TRANSPORT4 ,WE HE> AGA9 & 
AGA9 ( HUGE CR$ITS PROPOS$ TO BE MADE BY ,AM]ICAN BANKS TO ,EUROPE4 ,BUT AT IS 
C]TA9 ?AT NO BANK OR COMB9ATION ( BANKS WILL (F] ITS MILLIONS1 EV51 IF 
?AT IS ! ONLY WAY TO SAVE ,CAPITALISM4 ,= ,CAPITALISM AS A BL9D =CE :I* 
DRIVES ALONG ITS [N MA/]S LIKE SO MANY BL9D1 SLAVES ?IR/+ = GOLD4 ,9 
NO DIRECTION CAN WE SEE ANY REASON TO EXPECT ! RECON/RUCTION ( ! 
CAPITALI/ SY/EM4 ,:OLE POPULATIONS HAVE BECOME PAUP]IZ$ & NE$ HELP2 ! 
WORLD BECOMES PLUNG$ MORE & MORE 9TO *AOS & MIS]Y4 

,9 FACE ( ?IS COLLAPSE ( HUMAN SOCIETY ! MASS ( M5 /& DEAF & 
BL9D4 ,! B\RGEOISIE TRIES TO MAKE ITSELF1 & O!RS1 BELIEVE ?AT ! 
REVOLUTIONI/S >E PREP>+ A =CIBLE DE/RUCTION ( CAPITALI/ SOCIETY 9 
ORD] TO REPLACE IT BY A SOCIALI/ ONE4 ,IT DOES NOT REALIZE1 ?AT ,CAPITALISM IS 
DE/ROY+ ITSELF1 ?AT ,SOCIALISM IS ! ONLY POSSIBILITY1 & ! ONLY 
F\NDATION ( RECON/RUCTION1 :I* ! HUMAN RACE MU/ ACCEPT UNLESS IT WI%ES 
TO P]I% TOGE!R ) ,CAPITALISM4 ,! B\RGEOISIE P]SECUTES ! 
REVOLUTIONI/S & H9D]S !IR PROPAG&A 9 ! S5SELESS HOPE !REBY TO 
SAVE ,CAPITALISM1 :ILE1 9DE$1 BY ?OSE MEANS ONLY PROLONGS HUMAN MIS]Y1 & 
DELAYS ! COM+ ( ! NEW WORLD ORD]4 ,?AT DEAFNESS & BL9DNESS CONC]N+ 
! COM+ DISSOLUTION ( ,CAPITALISM IS ! HI/ORIC FATALITY ( ! 
B\RGEOISIE4 

,BUT ! MASS ( WORK]S >E ALSO BL9D & DEAF TO ?IS DISSOLUTION4 ,!Y 
REG>D ! M>* ( EV5TS )\T UND]/&+1 & )\T KN[L$GE4 ,TO HOPE 
?AT ! COLLAPSE ( ,CAPITALISM WILL F9D A PROLET>IAT REVOLUTION>ILY PREP>$ 
& CONSCI\S ( ITS MISSION IS N[ %[N TO BE UTOPIAN4 ,! COLLAPSE PROCE$S 
TOO RAPIDLY1 EV5TS SPR+ TOO SUDD5LY BE=E ! EYES ( M5 = !M TO BE 
ABLE TO ADOPT !IR M9DS TO ! NEW REALITIES4 ,?AT1 H[EV]1 DOES NOT MEAN 
?AT !Y WILL DO NO?+1 & QUIETLY SUBMIT TO P]I% TOGE!R ) ! WORLD 
CAPITALISM2 IT MEANS ?AT ! TRANS=MATION 9 ,WE/]N ,EUROPE & 9 ,AM]ICA 
WILL NOT PROCE$ ALONG ! SAME SIMPLE & EASY WAY AS 9 ,RUSSIA4 ,9F9ITELY 
GREAT] DIFFICULTIES MU/ BE CONQU]$ 9 ALL ?OSE C\NTRIES :]E A 
DEEPLY-ROOT$ B\RGEOIS CIVILIZATION HAS IMPRESS$ ITSELF ALMO/ 9]ADICABLY 
UPON ! M9D ( ! WORK]S4 ,! ROAD TO ,SOCIALISM WILL BE BY TORTU\S WAYS1 
ACROSS MANY B>RI]S1 UND] ! DEBRIS ( OLD IDEAS1 ?R\< NEW DECEIV+S1 
VA9 EXP]IM5TS1 & GREAT EV5TS4 ,A YE> ( GIGANTIC UNIV]SAL /RUGGLE LIES 
BE=E US4 

7,DR4 ,PANNEKOEK IS ONE ( ! BE/ KN[N !ORETICAL ,COMMUNI/S 9 ,HOLL&4 ,HE 
IS ALSO A SCI5TI/ ( REPUTE 9 ,EUROPE1 & AN HONOR>Y MEMB] ( ,PETROGRAD 
,UNIV]SITY4 ,! ABOVE >TICLE WAS TRANSLAT$ FROM ! ,9T]NACIA ,SOCIA 
,REV]O1 AN ,9T]NATIONAL ,SOCIALI/ ,ESP]ANTO MON?LY1 $IT$ 9 ,HOLL& 
BY ,COMRADE ,W4 ,NUTT]S1 ( ! ,DUT* ,COMMUNI/ ,P>TY74 

,FROM 3 ,M>XI/S4ORG4 

,*RONOLOGY 3 
,M>* #a1 #bba 3 ,! ,UNIV]SAL ,CRISIS -- ,ADD$4 
,JANU>Y #h1 #bbb 3 ,! ,UNIV]SAL ,CRISIS -- ,UPDAT$4 

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