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  • Writer's pictureFred Guerin

Socialism for the rich--Laissez-faire Capitalism for Everyone Else

It should be obvious to all of us by now that Globalism grounded in laissez faire capitalism, where literally everything including human life and the earth itself is looked upon as a commodity to be bought, sold or traded, has been an utter disaster.

In the absence of enforceable international regulations and standards that insure quality healthcare, adequate housing for all, fair wages and labour standards, the protection of the environment, wildlife and the biosphere from pollution, toxic chemicals and climate warming, the conservation of fresh water and food security, unelected tyrannical institutions such as the World Bank and the IMF have been allowed to impose austerity and promote privatization entirely in the interest of a corporate elite.

We are where we are right now--on the brink of a new cold war and impending climate catastrophe--because unelected international institutions like the World Bank, IMF and NATO have been allowed to insulate themselves and the private corporate tyrannies they promote from any sort of public input or scrutiny.

The argument was always that such institutions must not be 'politicized' or subject to the whim or inconstancy of electoral politics. But the reality is that they are and have always been the institutional embodiment of laissez faire capitalism which is clearly an economic AND political system created for the benefit of a small private investor class at the expense of the welfare of the rest of humanity.

The myth promoted by laissez-faire capitalists is that the only thing governments have a duty to protect and promote is individual freedom which is best enabled through the so-called free-market system. Under this framework governments are considered to be an obstacle to innovation and entrepreneurship. The reality is that when the financial system went into meltdown in 2008 and was considered 'too big to fail' suddenly government bailouts(i.e. taxpayer money) were absolutely necessary in order to save the laissez-faire economic system from its inbred irresponsibility and greed. It is not the 99% who are the biggest welfare recipients but Banks and corporations.

And there you have the perfect illustration of how corporations, the World Bank and IMF touting the so-called impartial 'market-system' can scream 'austerity' for the 99% (but not for us.)

In other words, socialism for the rich--laissez faire capitalism for everyone else.

If we are going to turn things around for the good of our precious and fragile biosphere, then it is time for a political AND economic revolution.

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