Further problems are being created by the proposed solutions
to an economic crisis more serious than the Great Depression. As in the 1930s,
government employees of great wealth are attempting to bail out the failing
system at public expense, thereby making things worse and avoiding what is for
the good of humanity.
Capitalism has achieved massive private profits for a
minority only by generating staggering loss for a majority burdened with
unpayable debt. Perpetuation of this system could lead to total disaster. But
its failure presents an opportunity to bring on an age of equality and social
justice such as the world has never known. The question is whether this
collapsing economy will take us down with it, or whether we will transform it
into a life enhancing system to advance all humanity, before it destroys
A ruling power so obsessively blinded by wealth, greed and
violence that it can see neither the forest nor the trees, is in process of
tearing down the natural and human made structure of the world. If the majority
does not act to acknowledge what the earth and political economics have been
telling us for a long time now, civil society may pay the ultimate price for
this barbarically uncivil and perversely antisocial system.
As Bernard Madoff explained to an intently listening
congregation of believers in his Ponzi scheme, a profit on one side of the
ledger means a loss on the other. This is a hard and fast rule of the
collapsing economy, which may yet fall on our heads unless we see that he and
his ilk profit because we are all absorbing the loss. And we may pay the
ultimate price unless we change the system that brings us to this critical
The indecisive billion dollar steps being taken on the multi-trillion
dollar path to a bail out of capital amount to applying a gigantic wad of
bubble gum to patch the gaping hole in the Titanic. It will work for awhile,
but eventually water will come rushing in and the photogenic new captain and
his family will go down along with the crew and passengers who have been made
to pay for a colossal shipwreck. Whether the call is to abandon ship, mutiny or
create social revolution, it should be obvious that radical change, not minor
reform is necessary.
This is not simply a crisis of finance capitalism:
Capitalism itself is the crisis. The sooner we realize that, the sooner we can
help transform global society into one that assures liberty and justice for
all, and is in environmental balance with nature. Another world is not only
possible, but absolutely necessary. And it must be one in which the human
development of the whole community is far more important than the creation of
private profits for a few. The acquisition of capital for some can no longer be
allowed to threaten the dissipation of society for all.
Repeating past attempts at reform of a crippled system, even
if applying new names or labels, will only bring short-term progress. Whether
the economic product is called a new deal, a great society or a free market,
like all drugs it will only provide temporary relief. Each reform pleases a
part of society by creating gains for them, but always at the expense of the
rest who eventually respond to calls for more reform to benefit another group,
which continues the cycle. But this divide and conquer game has now run its
course, and we need to understand that to succeed only by guaranteeing
another�s failure is what�s leading us to political, economic and moral ruin.
And anti or pro government passion isn�t the answer if it
doesn�t identify a state controlled by minority wealth as the real problem. It
needs to become passion that sees the only real solution through recreating
government to become a democratic expression of the majority.
Massive consumer debt incurred while earnings declined has
enriched a minority with imaginary money, but that is presently vanishing from
an electronic fairyland. While working people became a middle class only by
absorbing hundreds of billions in private debt, capital�s governing class has
been borrowing tens of billions of dollars every week for years now, creating a
public debt so large it has more zeros than normal calculators can record.
We have depended on foreigners buying our public debt in
order to finance a murderous foreign policy, while denying housing, health care
and education to millions of our people. Meanwhile, workers with falling wages
have been consuming things they often don�t need and can�t afford except by
going into deeper private debt. None of this can continue, and if we don�t
radically change our social behavior, material reality will deal with us the
same way the ocean dealt with the Titanic.
Instead of private non-profit organizations attempting to
provide service for people victimized by the system, we need a public
non-profit organization, truly democratic government, to see to those services.
This would allow private for-profit organizations to perform in a market not dependent
on them for survival, but only for the things that make life more pleasant once
survival has been assured. But none of that can happen if we continue
increasing our burdens, and that of the earth itself, in order to go on
destroying other societies in the name of a degenerate definition of freedom,
while we destroy our own in the process.
All we�re being offered now is a great regression that will
do nothing but make this great depression worse. In the words of a famous
philosopher �the free development of each is the condition for the free
development of all.� Progress demands we save ourselves by creating a
cooperative, democratic, and socially responsible world. That�s the only real
way out of this mess.
Copyright � 2009
Frank Scott. All rights reserved.
Scott writes political commentary which appears in the Coastal Post, a monthly
publication from Marin County, California, and on numerous web sites, and on
his shared blog at legalienate.blogspot.com.
Contact him at email@example.com.