Neo-liberal Capitalism is morally, intellectually and actually bankrupt.

A view from an occupier.

Over the last 20 years we have witnessed remarkable technological achievements and advancements in our understanding of the sciences. Today, we have the opportunity to purchase items and engage in activities the likes of which our grandparents could never have imagined. Nevertheless, despite capitalism’s best attempt to satiate our every desire via the use of technology and marketing, the current economic system continues to fail many within our society. Poverty, homelessness, depression, addiction, war and an ever increasing suicide rate, are all symptoms of a society who’s happiness has diminished to the point that it has become, for some, almost unbearable to live. NHS figures reveal prescriptions for antidepressants have risen by 43% in the past four years to nearly 23 million a year.

Personal debt has skyrocketed due to a stagnation in wages and continued consumer price inflation. House prices and the cost of private renting have ballooned to the point whereby many people can barely afford to rent a single room, let alone a flat. Unemployment has continued to rise, while at the same time the Murdoch press would have us believe that those who unfortunately find themselves on the dole are simply work-shy layabouts who lack ambition. If capitalism cannot provide hope by delivering jobs with a decent living wage and pension, educational opportunities for our young people, adequate housing to bring up our children and security for the elderly, sick and vulnerable, we are morally obliged to create an alternative system that can.

Today the number of billionaires in the UK is growing an ever increasing rate. At the same time the number of children living in poverty is on the increase. We have more children living in the British care system than at any other time in its history. The youth of our society are not violent mindless thugs, they are angry at the betrayal they have been subjected to. All of us were told as children if you work hard you can achieve what ever you set your mind to. This simply is not the case. The class division within our society is greater than ever. When faced with the current economic reality, Social mobility has almost become a utopian fantasy.

Neo-liberal Capitalism is morally, intellectually and actually bankrupt. Now is the time to work towards alternatives.

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5 Responses to Neo-liberal Capitalism is morally, intellectually and actually bankrupt.

  1. Pingback: Bristol 2050: The peoples plan. |

  2. Ben Tremblay says:

    Have you seen the movie “Home” about environmental degredation? It you cut into that material about, as above, prescription seditives, and then social stuff like crime / divorce / drop-out rates, that would be a package deal.
    The point I’m making: my crew and I were producing documentaries like that in the mid-70s. Nobody wanted to hear it. I mean 90% of the population had their fingers in their ears. (FWIW I think oligarchs know what’s happening; they just have their own plans.)

    Ya basta!

  3. Jay Flacka says:

    Well spoken, sir.

    Solidarity from the other side of the Atlantic!

  4. Act or perish says:

    Some interesting points in this article and I’d like to add my thoughts. The scientific and technological developments mentioned should surely mean that we should be working less now than in the past ? John Maynard Keynes, the godfather of modern macroeconomics believed that everybody would be working 15 hour weeks by the end of the 21st century based on this premise. However the exact opposite has happened as we see working hours rise and continue to do so. The New Economics Foundation published an interesting article on the move to a 21 hour working week :

    http://www.neweconomics.org/projects/towards-21-hours

    The benefits of this could be enormous. For instance this might well reduce the major problem of stress related illnesses linked to work as mentioned in the article, a more “awake” workforce, a better work/life balance allowing the fragmentation of family and community life that is clearly happening presently to diminish. Detractors would say that they just couldn’t sacrifice the decrease in wages. For this shift to be meaningful a large percentage of the workforce would have to go this way and self reflection would be required with some sacrifice and no amount of determination to take on the powers that be. Personally I feel that this is worth moving towards. It is just a question whether enough of the workforce are willing to actually self reflect and admit the present system is broken, particularly after what has happened in the last 3 years or so and decide to go this way ? Also I feel that this coupled with the ideas of the unsustainability of capitalism in terms of the planet has more mileage than the blame games/bickering of bankers, private versus public sector entitlements that seem to me in fashion at the moment. These can be used to highlight faults of the current system but at sometime a large percentage of the population would have to self reflect on what they really want for the future and more to the point what they are willing to sacrifice.

  5. Dave says:

    Some interesting points in this article and I’d like to add my thoughts. The scientific and technological developments mentioned should surely mean that we should be working less now than in the past ? John Maynard Keynes, the godfather of modern macroeconomics believed that everybody would be working 15 hour weeks by the end of the 21st century based on this premise. However the exact opposite has happened as we see working hours rise and continue to do so. The New Economics Foundation published an interesting article on the 21 hour working week :

    http://www.neweconomics.org/projects/towards-21-hours

    The benefits of this could be enormous. For instance this might well reduce the major problem of stress related illnesses linked to work as mentioned in the article, a more “awake” workforce, a better work/life balance allowing the fragmentation of family and community life that is clearly happening presently to diminish. Detractors would say that they just couldn’t sacrifice the decrease in wages. For this shift to be meaningful a large percentage of the workforce would have to go this way and self reflection would be required with some sacrifice and no amount of determination to take on the powers that be. Personally I feel that this is worth moving towards. It is just a question whether enough of the workforce are willing to actually self reflect and admit the present system is broken, particularly after what has happened in the last 3 years or so and decide to go this way ?

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