Relevance of Marx for reducing inequality | Guyana Chronicle


Relevance of Marx for reducing inequality | Guyana Chronicle.

The Most Effective Factor in Education | LinkedIn


The Most Effective Factor in Education | LinkedIn.

Relevance of Marx for reducing inequality (Part 1) | Guyana Chronicle


Relevance of Marx for reducing inequality (Part 1) | Guyana Chronicle.

Challenges to the national sovereignty of Guyana


Prem Misir notes the following:

Challenges to the national sovereignty of Guyana:
While Diplomats continue to challenge the national sovereignty of Guyana, very few Guyanese in the Diaspora, or locally, are the architect of any response to them!!! But commentators are in abundance when it comes to the Government of Guyana’s response to the U.S. Ambassador!!!

Challenges to the national sovereignty of Guyana


Prem Misir notes the following:

Challenges to the national sovereignty of Guyana:

While Diplomats continue to challenge the national sovereignty of Guyana, very few Guyanese in the Diaspora, or locally, are the architect of any response to them!!! But commentators are in abundance when it comes to the Government of Guyana’s response to the U.S. Ambassador!!!

Diplomats interfering with Guyana’s national sovereignty!


Prem Misir notes:

Diplomats interfering with Guyana’s national sovereignty!

Over the last decade, diplomats from the Western nations have excessively experimented with and distorted standard diplomatic protocols; and among these diplomats, such distortions have produced the perception that interference with the national sovereignty of Guyana is part of their responsibilities!!!

Questioning the relevance of capitalism


Questioning the relevance of capitalism

 

By Dr. Prem Misir

 

Ideas of Marxism and capitalism dominated social and political thinking throughout the last century and remain dominant into the beginning of the 21st century. In the last half of the last century, those countries that embraced Marxism were deemed as practicing socialism/communism, and those which espoused capitalism were branded as practising free-market capitalism. Again, in the last half of the 20th century, it would appear as if the two ideologies – Marxism/capitalism – divided the world into two warring blocs, providing impetus and ingredients for creation of the Cold War. The 45-year Cold war has been over since 1988, but the resurgence of interest in Marxist thinking may reestablish the competing and militaristic global divisions to which the Cold War attested. Among other things, the Cold War was testimony to the many challenges people faced through the modus operandi of both ideological camps.

People not wedded to the Karl Marx camp have constantly raised questions about Marxism. In the same way, people not wedded to the capitalist camp have constantly raised questions about capitalism. And yet questions about the relevance of Marxism seem to carry a greater import on people than questions about the relevance of capitalism. Could it be that Marxism has inflicted greater damage to the world than capitalism? The image of Marxism has constantly been kept on the radar as if it is a terror that strikes a nation. And the image of capitalism is continuously juxtaposed to the nirvana to which every nation should gravitate. But what is the reality?

Pope Francis, in an 84-page apostolic exhortation, referred to unfettered capitalism as ”a new tyranny”, poking global leaders to eradicate poverty and growing inequality, confirming that “As long as the problems of the poor are not radically resolved by rejecting the absolute autonomy of markets and financial speculation and by attacking the structural causes of inequality, no solution will be found for the world’s problems or, for that matter, to any problems” (1).

The Pope is negatively branded a Marxist the instant he talks about inequality and poverty that capitalism brings, implying that Marxism is something evil. It is ironic that the Pope is heaped unjustly with nihilism when it is Marxism and not capitalism that provide the praxis for reducing inequality and poverty. The Pope has now joined a long line of chorus identifying free-market capitalism as the source of the twin evils of inequality and poverty, and demanding an end to the excesses of capitalism. In 2008, some of those excesses as the international credit crunch became real for the U.S. and the Western world, bringing into question the utility of capitalism.

This international financial crisis, a creature of capitalism, destroyed numerous people’s livelihoods comparable to terror striking a nation, and yet no evil symbolism has been attached to capitalism. The economic and financial destruction was conspicuous at the household level, thus (2): Americans lost 25% of their net worth in 18 months from June 30, 2007; total home equity worth $13 trillion in 2006 fell to $8.8 trillion by mid-2008; losses in savings and investment and pension assets were $8.3 trillion; U.S. corporate profits fell because consumers ceased spending on discretionary goods because of concerns about the financial crisis, and, instead, increased their savings; the final outcome was a weaker economy, with limited spending, reduced incomes, and increased unemployment (2).

Given these financial and economic atrocities are only a small sample of the devastation that American households are still experiencing today, the relevance of capitalism should become a central focus for corrective action. But the weight given to questioning the relevance of Marxism is even greater than the weight attributed to capitalism because, among other things, Marxism challenges the status quo that works against the interests of workers. Capitalism offers no such challenge because the creators and advocates of capitalism are more wedded to fortifying their interests rather  than the interests of workers.

But something good may have emerged from this international financial crisis, where the financial meltdown renewed the merits of financial socialism, Karl Marx, and John Maynard Keynes. U.S. policymakers in post-2008 used financial socialism powered by Marxist thinking to bring some normality to the international credit crunch.

On an endnote that could question the relevance of free-market capitalism in the U.S., the bastion of capitalism, some poverty statistics drawn from Bill Moyers & Company, May 29, 2013 may be useful, thus: in 2011, 46.2 million people or 15% of people in the U.S. experienced poverty, 16.1 million or 22% of all children, inclusive of 39% of African American children and 34% of Latino children lived below the federal poverty line, and 1 in 15 Americans faced deep poverty. This situation has not changed significantly.

Given the U.S., the mainstay of capitalism, experienced the international financial crisis in 2008, before that the Great Depression, rising poverty levels, the growing working poor, t5he increasing gap between the rich and the poor, and other similar human outrages, why should people not question the relevance of free-market capitalism?

References:

  1. Francis P. Apostolic Exhortation Evangelii Gaudium of the Holy Father Francis to the Bishops, Clergy, Consecrated Persons and the Lay Faithful on the Proclomation of the Gospel in Today’s World (Rome. Vatican Press Rome; 2013.
  2. Altman RC. The great crash, 2008: a geopolitical setback for the West. Foreign Affairs. 2009:2-14.

BBC News – In pictures: Battling Ebola in West Africa


BBC News – In pictures: Battling Ebola in West Africa.

Study: Common HIV Drug May Boost Suicide Risk – Health News and Views – Health.com


Study: Common HIV Drug May Boost Suicide Risk – Health News and Views – Health.com.

AIIMS doctors lead the way, wage war on unnecessary medical tests – The Times of India


AIIMS doctors lead the way, wage war on unnecessary medical tests – The Times of India.

Blog Stats

  • 31,137 hits

Calendar

July 2014
M T W T F S S
« Jun    
 123456
78910111213
14151617181920
21222324252627
28293031  

Archives

Follow

Get every new post delivered to your Inbox.

Join 155 other followers

%d bloggers like this: