The life of a single human being is worth a million times more than all the property of the richest man on earth.
Reblogged from The Lifting of the Veil
Repetition, according to Hegel, plays a crucial role in history: when something happens just once, it may be dismissed as an accident, something that might have been avoided if the situation had been handled differently; but when the same event repeats itself, it is a sign that a deeper historical process is unfolding. When Napoleon lost at Leipzig in 1813, it looked like bad luck; when he lost again at Waterloo, it was clear that his time was over. The same holds for the continuing financial crisis. In September 2008, it was presented by some as an anomaly that could be corrected through better regulations etc; now that signs of a repeated financial meltdown are gathering it is clear that we are dealing with a structural phenomenon.
We are told again and again that we are living through a debt crisis, and that we all have to share the burden and tighten our belts. All, that is, except the (very) rich. The idea of taxing them more is taboo: if we did, the argument runs, the rich would have no incentive to invest, fewer jobs would be created and we would all suffer. The only way to save ourselves from hard times is for the poor to get poorer and the rich to get richer. What should the poor do? What can they do?
vruz: I think Umair Haque is onto something. He calls it Capitalism 2.0 but I think that’s just better marketing than Socialism 1.5
—via letterstomycountry:
Nouriel Roubini worries about the state of the global marketplace:
So Karl Marx, it seems, was partly right in arguing that globalization, financial intermediation run amok, and redistribution of income and wealth from labor to capital could lead capitalism to self-destruct (though his view that socialism would be better has proven wrong). Firms are cutting jobs because there is not enough final demand. But cutting jobs reduces labor income, increases inequality and reduces final demand.
Recent popular demonstrations, from the Middle East to Israel to the UK, and rising popular anger in China – and soon enough in other advanced economies and emerging markets – are all driven by the same issues and tensions: growing inequality, poverty, unemployment, and hopelessness. Even the world’s middle classes are feeling the squeeze of falling incomes and opportunities.
To enable market-oriented economies to operate as they should and can, we need to return to the right balance between markets and provision of public goods. That means moving away from both the Anglo-Saxon model of laissez-faire and voodoo economics and the continental European model of deficit-driven welfare states. Both are broken.
How about a surplus-driven welfare State? Like Sweden?
In the last decade, from 1998 to present, the [Swedish] government has run a surplus every year, except for 2003 and 2004. The surplus for 2011 is expected to be 99 billion ($15b)kronor.[31]
So capitalism is looting the public sphere. Services that citizens have for a hundred or more years considered to be public goods and not to be exploited for the profit of a few – health care, care of the elderly, education, unemployment benefit, old-age pensions, fresh water, sewers, waste disposal, roads and footpaths, urban and rural planning, the postal service, the telephone service, the police, and so on – are subject to systematic and sustained pressure aimed at breaking the link between the citizen and the service. No longer should we think of these things as ‘ours’, except in the sense that we can say a bank is ours. These things are provided to us as goods and services by companies which exercise their right to make a profit out of them – out of us really, out of our pain, our parent’s old age, our children’s childhood, our money troubles, our environment. Citizens are to be redefined as consumers of services. The sole function of the state is to regulate the activities of companies so that monopolies do not develop.
The police function as the guarantor of profit. The police are ‘ours’ only in the way the taxman is ours. The police thus find themselves increasingly (for it was ever thus) with their backs to the corporate wall facing a disinherited citizenry for whom the state is a hostile force. This makes the police political for it is a mistake to think that the looting of the public sphere by corporations and individuals is not political. Of course, nobody on the corporation side wants to call it that. They want it to be understood as common sense. The state is ‘broken’, they say, or it has ‘failed’. Only profit-making companies can do the job efficiently and give good value for money to the consumer. What they really mean is ‘We’re going to take the money and run’. When you’re down and out, feeling low, check your credit rating.
