The Rich See the Impasse of Capitalism. Political Analysis Maria Anthi

 

The ghost of the COVID-19 for the financially disadvantaged, as well as their countries leaves ominous predictions, something that one may not be able to imagine in the future, since the charities are no longer enough for anyone. State bankruptcy and high unemployment, especially in the United States, will affect everyone. Soros recently spoke out about the crisis and said everything was under scrutiny, even capitalism.

Bill Gates took the initiative to raise $ 7.2 billion to deal with Covid-19, accusing Trump of leaving the World Health Organization. Of course, they are a minority, but they are the richest people in the world. And one wonders, what do these emblematic oligarchs who have done charities see and not everyone else sees? They see that the huge inequalities and lack of social infrastructure threaten the whole cohesion of the system.

In a recent report, Fortune reveals that half of their fortune is intended to be donated to charity by the two richest Americans, Bill Gates and Warren Buffett. Not only that, but they will try to persuade other millionaires and billionaires to do the same. Join a program of Gates and Buffett. Kaufman & Broad real estate co-founder Eli Broad and his wife Edythe, and former Cisco chief John Morgridge and his wife Tashia have also pledged to donate half of their fortunes to charity.

What they are doing means, that they have a different attitude towards what has happened, and if all the rich did, humanity would have no problem because 1% of the population owns more than 50% of the world’s wealth. If everyone had such an attitude, the impasse would have been avoided.

The point is that they are now seeing this impasse of capitalism. But now what is going to happen and are they in a hurry to stop it? this is another question to be answered. If they really want to solve, the problem of social inequality and unemployment and hunger in the weakest because they didn’t do it much earlier.

They are now forced to make such a program to eliminate a crash that will never be the same again. Maybe in this way they will save something, but after allocating a lot of funds for social needs. This means that in this way and with the corresponding policy, the economy can move forward. If wealth is not redistributed to move the real economy, it will remain the impasse that no one knows where it will lead because the system is blocked.

Recall what economist Keynes had suggested in the interwar period. That the state should be bravely funded in infrastructure projects to boost employment and that was adopted for 30 years by America and Europe and later we had the exploitation of politics by Social Democracy. We had the continuous growth and prosperity of the 30 years until the oil crisis. 

The states must take the initiative for large-scale projects so that unemployment will be addressed and the economy will move forward.

This was the lever of the economy by the state. Emphasis on demand and leverage by the state. In the crisis of 1929 in crash, the cure was Keynesianism. Capitalism, if not overthrow, at least wants to be corrected.

 

 

 

 

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