by B. R. GOWANI
Protesters from Occupy Wall Street march through the financial district dressed as corporate zombies Monday, Oct. 3, 2011, in New York. The protests have gathered momentum and gained participants in recent days as news of mass arrests and a coordinated media campaign by the protestors have given rise to similar demonstrations around the country. PHOTO/John Minchillo/AP/Houston Chronicle
Disturbances on capitalism’s home-front
Although capitalism in some form has always been around, the modern capitalism as we know it today first emerged in Europe and and then it was brought to North America and Australia by the conquering Europeans. Today, however, these regions are experiencing tough times, particularly, Europe. Not that things have been smooth in the past, but now things have gotten worst and the social media and internet have made it more obvious.
At present, many countries, including Russia and Brazil, are on a capitalist path. So are India and China, but in their case, with a difference-at least, up until now–with the state controlling the “commanding heights of the economy”, to use the words of Jawaharlal Nehru, India’s first prime minister.
In Europe, the PIGS (Portugal, Italy, Greece, and Spain) or PIIGS (including Ireland) countries are experiencing debt nightmares. (Italy tops the list with about 1.9 trillion euros or 2.6 trillion US dollars.) Adding to their woes are IMF’s rigid stance and European Union’s “policy failure”. Nevertheless, whether the governments honor their commitments with high interest rates on bonds (because of lowering of their “credit rating”) or in case of default, it is a “win, win for the fat cats“, that is, the “financial sharks”. Besides, as John Grahl points out, those countries in the European Union who are also part of the monetary union are stuck with one exchange rate. This prohibits them from any adjustment in their currencies, irrespective of the problems they may be facing.
(Unions are good for regional peace and prosperity; provided the grievances of weaker members and other problems are constantly taken care of. Mercosur countries in South America have their problems too, however, they’re not about debt.)
People are out
Now who will pay the price? Of course, those without a voice in government. The usual beasts of burden. This is in the form of austerity measures which are imposed upon the victim-countries–victims of the bondholders. The people will see cuts in government programs, job losses, and other economic pains; thus further exacerbating the economic crisis.
People’s movements have sprung up in many countries, including the Obama Land, and mass protests are, it seems, becoming a common feature. Last week, Greece witnessed another day of demonstration. Athens was brought to a standstill by the transport workers’ strike.
Any changes?
Perhaps, in a country or two, minister(s) or prime minister(s)/president(s) may resign, or some prominent person(s) may get killed. But other than that, capitalists are not going to rein in their greed. They are very cunning.
Poet Muhammad Iqbal once wrote:
With deceptive moves the capitalist was victorious
The worker lost his game due to his extreme simplicity
If worse comes to worst, the capitalists will move their wealth and/or themselves elsewhere. During the Cold War, the capitalists had half a world to them, but now they have almost the entire world to them.
Universal citizens
We progressives may fondly declare ourselves as universal citizens who are above nationalism and feel the pain of people around the world irrespective of their religion, gender, ethnicity, caste, sexual orientation, and other such things, but unless our pockets are loaded and our tongues and pens are saying and writing things which are not annoying to the ruling classes, very few nations will take us in. A progressive can, even with a valid visa, be denied entry.
(David Barsamian a progressive who runs Alternative Radio was not permitted to enter India and was deported from Delhi airport, even though, he has been traveling to that country for decades. India is allergic, or as they “sensitive”, to anyone talking or writing about the torture and inhuman treatment of Kashmiris at the hands of Indian Army. Barsamian had talked about it; thus hurting the feelings of the Indian establishment.)
On the other hand, people like Bill Gates, Mukesh Ambani, and other wealthy people can knock almost any country’s door, even in the middle of the night, and they’ll find a red carpet unrolled for them. They’re, in a true sense of the word, universal citizens.
B. R. Gowani can be reached at brgowani@hotmail.com