By: D G Bokare

D G Bokare — Sun, 17 May 2009 17:00:50 +0000

Whatever mentioned above are always known as part of monopoly capitalism. It is not that it is not known to economists. They do not accept this as they are paid by the capitalists. Paul Samuelson has called them ‘kept men’. Free market etc are all bosh. There is no free market aywhere in the world. Priviled people with patents, trademarks, copyrights, limited liability corporations compete with those who do not have these privileges. Can we call them players of free markets? Never. They are partners of monopoly market capitalism. Economic inequality is built in the Constitution. Refer what Abraham Lincoln said 150 years ago. He predicted that corporation would be uncontrolled by any politician or state. These would exploit ordinary citizens all the time and the republic would one day vanish. We have now come to that stage.
Why trickle down theory? Who initiated this and why? Only by rich business people and by politicians who are influenced by capitalists have vested interest in doing this. . Nature has not made any difference between rich and poor. All human beings are equal. Only the rich people by using corruption route influenced politicians and passed the laws bestowing privileged on a few people of the society. Though Karl Marx said that laws should be made to bring the people together otherwise they would be immoral and unsustainable, he himself divided the people in the USSR between protected people, capitalists and farm labour and self-employed people. He was responsible for caste war within Marxian economies. In a way Marx was a freind of capitalists, philosophically, since he wanted industries not to be closed during depression in order to protect organised workers’ jobs.
Why workers should line up to beg for jobs? Can they not demand as a right to get state’s help to start their own small businesses? State’s basic responsibility is to ensure all the citizens get their means of production to lead a decent life. Before law, all the people are equal. This might need some amendments in the Constitution. Let us work for them. Else, workers will always remain as slaves of rich people. Corporate person has no status in the Constitution of all the democratic countries, but due to the money power the rich get separate constitution for economic transactions which runs parallely. They have one share-one vote system in the economic sector whereas, we have one man-one vote for the political purpose. Why two constitutions running at the same time in a democracy?
Today the world is at the mercy of large corporations for survival. Why two billion people should suffer at the hands of such big corporations? Corporation is the largest monster created by man-made laws by the elite people of any society. As long as they are kept alive, no human being is going to lead a decent life which he is ordained by the almighty.
Recession or depression is not of any people working honestly for themselves and for the society. The depression is for the industrial sector and the profits of the capitalists. If the depression is allowed to run for its full cycle, allg corporation would be vanished from the economies. So what? The places would be taken by small entrepreneurs, cooperatives and self-employed people. That would help to decentralise the economic power presently concentrated in a few private hands. That would be ideal for common man all the time. We should work for this solution to avoid ‘trickle down’ effects and rising gap between rich and poor people.

Comments on: Global economic crisis

By: D G Bokare