The spectre is back

Original article, an editorial, via Socialist Appeal (UK):

In 1848 The Communist Manifesto opened with the line, “A spectre is haunting Europe – the spectre of communism. ” The spectre of Marx haunts world capitalism still.

With the collapse of the ‘free’ markets, the capitalists have come running to governments around the world to bail them out. Surprise, surprise. They think that it’s their right to plunder the wealth of nations. But, in the long term, it’s the workers who created that wealth, not the capitalists.

Everyone now knows that the ‘masters of the universe’ who were making things happen in financial markets were incompetent, were crooks or both. Everyone now knows what the market system delivers – it delivers unemployment, it delivers chaos. It has failed. This is causing a profound questioning among millions of workers.

What you don’t get told is that Adam Smith’s ‘invisible hand’ of the markets is a purge of the bile which capitalism injects into the economic system. It’s not surprising that a system which is set up to benefit the few should collapse. We should also realize that the huge deficits the US has been running (save one or two years, and even those were backed by the looting of the social security lockbox) has been what’s propped up our economy.

Who predicted this? Only one man. Only Karl Marx. Life teaches, and today people are being forced to learn very quickly. With this comes a desire to really understand how this system works. What better authority to turn to than Karl Marx himself, who long ago explained the mechanism that lead to crises like the present one we are living through.

You may not want to see a socialist revolution. But, for now, we’re all Marxists in a sense: That sense being that we can see the failure of capitalism. The trillions of dollars, euros, yens and other types of money only go to prop up a dead system. What the new economic order will be is up to us. We can sit back and allow the lords of economics to continue their profligate ways, or we can work toward a sane economic system. The choice is ours.

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  1. Right now, what capitalism has bequeathed us is either a hyperinflation depression or a deflation depression.  Take your pick, they both suck.

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