In my student days our thermodynamics lecturer gave us a little talk regarding examinations. He started with the usual advice about reading the question carefully, not to panic if we could not initially answer the question, and to move on to another... etc. Finally, he said- do not do what one student did who wrote to the examiner: "I am sorry I cannot answer this question but I can answer the following one". He then proceeded to write his own question, and to answer it perfectly. The above story sums up the actions of politicians thus far as they respond to the economic crisis engulfing capitalism worldwide. The politicians are unwilling, unable, or both, to tackle the causes of the problem which are the lack of demand as a result of unemployment, cuts in real wages and soaring energy prices, with profits rising by 700% since June 2011. Instead, they continue to pump more and more billions into the banks, with the gap between the poor and the super-rich that lies at the core of the problem forever widening.
Jeffrey Sachs, the well-known American economist, interviewed on BBC radio 4 Today programme (October15, 2011) about his book "The Price of Civilisation", made some very telling remarks:
"International capital at the top is mobile, and is running circles around our government: this is the essence of globalisation".
"One major Chairman of the Board of one of the world's largest companies put it to me accurately a few months ago when he said to me: You have to understand that the big companies do not feel any national loyalty anymore, we are beyond that, we can pay ourselves gargantuan compensation packages that are offensive to the social norms of the host country because we do not feel part of the host country anymore"
"The countries that have done the best [under globalisation] are the social democracies of Northern Europe. They tax themselves heavily but then governments really perform, it is honest, it is not corrupted, and delivering services that the public want, and it is creating and ensuring an inclusive society, not one that is divided between the very top and the rest"
The demonstrations and the resistance worldwide to the immorality and the policies of governments in cahoots with global corporations and the "moneymen" are gaining in strength, and will eventually force politicians to address the real question, namely that of reforming and controlling this corrupt form of capitalism.
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