Extreme Capitalism is Laying Waste to Western Economies
[The following discussion is not intended to be complete or exhaustive. There will be expansions]
[This discussion is intended to be relevant and applicable to both USA & UK situations, and probably also to Europe, Canada, South Africa, Australia, Japan etc..]
Western Economies which have embraced Extreme Capitalism (i.e. UK & USA) are now moving (or have already moved!) from a situation with 20-% living in poverty to 50+% living in poverty. You can say also that Greece, Portugal, Spain and Italy are well on the way.
This has for several reasons been obscured from public gaze. The Mainstream Media is under intense pressure not to expose or discuss. Government statisticians are constantly under pressure to massage numbers and change the goalposts. And no-one wants to admit that they have moved into poverty. And everyone hopes that their move into poverty is a temporary blip and not something permanent. And the relative wealth of the older generations is masking to some extent the scale of the problem – i.e. the older generation is releasing some of its capital to fund their children and grandchildren. But that capital will not last for ever.
This shift from 20-50% has profound implications for politics. In the UK, both main parties – Tories and Labour (or New Labour!) – have been tilting their pitch at the 79% – the middle class, upper and lower middle classes, upper working classes – who were neither extremely rich nor poor. There is now a danger (for these 2 parties, but an opportunity for others) that this 79% will become or has become 49%, and can be outvoted by the poor and the New Poor. The blame meanwhile is not being directed at #ExtremeCapitalism – which is the favorite candidate for this mess – but at Immigrants and at those who abuse the Welfare System (“benefit scroungers” or “welfare scroungers”). In America there is a pathological and virulent equation of any and all kinds of welfare as being Socialism and Government control of the people and of individuals.
Some questions:
Q. Can or should either or both the 2 main parties re-model themselves to cope with this change in the landscape?
Q. Are the minor UK parties (LibDems and UKIP) credible or suitable to take a major role?
Q. Is there opportunity for a new party or parties? If yes, then what would it or they look like?
Q. Can or should the West try to get itself out of this mess? Are there alternative means of doing so? Which of these alternatives is best?
Q. What are the implications for the Rest of the World?
Q. Will normally calm and complacent Western Populations take this massive loss of personal and family income lying down?
Q. In addition to, or as alternatives to Government action, are there things which individuals, families, & communities can do to resolve or ameliorate the situation?
Q. If we set aside the way which global economics and global politics run at the moment, surely mankind, with our incredible technology, can somehow create a world system where everyone has a comfortable existence and no-one has to suffer material deprivation? If the answer is yes, then how do we square that with current predictions of 5-50 years of austerity?
Q. Some people (well – OK – just me!) reckon that the future has a choice between being either Fascist or Socialist. If the Socialist option is chosen (against the will obviously of 80% of Americans!), then will it be possible to combine economic socialism with political and personal Freedom?
Q. What is the mechanism or mechanisms whereby ExtremeCapitalism has effected this situation? What is the logical end result if the present path is continued? Is it possible to modify the present scenario and parameters to effect a better outcome?
Q. Why do western media and western populations become paralyzed with boredom or techno-fear whenever any alternative to the economic and political Status Quo is laid on the table?
Alex Weir, Plot 25500, Block 9, Gaborone, Botswana, Africa
alexweir1949@gmail.com
@alexweir1949
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