the Void, you ask me to define capitalism and ask what it has to do with the EU and Greece.
The definition I favour is that capitalism is an economic system based on the idea of competition ( as opposed to the socialist idea of cooperation).
It flows that a competition throws up many more losers than winners. The evidence for this is the ever-increasing wealth divide between the mega-rich and the poorest countries and individuals on our planet. ( Socialism seeks to split the cake more evenly by removing the extremes ).
We live in a time when global capitalism is the dominant economic power ( not socialism ).
Thus the EU operates according to the prevailing orthodoxy. By labelling countries or the EU " left " you appear to be suggesting that socialist principles are at work...they are not, in my view. The medicine prescribed for the Greeks is of the capitalist type...toxic for the poorest.
As an example of capitalism at work, I point you away from Greece and towards Russia.
A recent report from Moscow's Higher School of Economics found that the richest have doubled their wealth in the past 20 years whereas almost 2/3rds are no better of and the poorest are barely 1/2 as wealthy as they were when comunism ended.
The report shows that oligarchs got rich quick by snapping up the country's choicest assets in the immediate post-Soviet period.
( my view, communism went to " gangster capitalism " very quickly indeed ).
The report further shows " two Russias " . The wealthiest 1/5 of the population received a pay cheque equivalent to 198% of its value in 1991, while the poorest 1/5 made only 55% in real terms.
In total, 60% of the population has the same real income or less than the average 20 years ago.
Same old story of capitalism at work!
The definition I favour is that capitalism is an economic system based on the idea of competition ( as opposed to the socialist idea of cooperation).
It flows that a competition throws up many more losers than winners. The evidence for this is the ever-increasing wealth divide between the mega-rich and the poorest countries and individuals on our planet. ( Socialism seeks to split the cake more evenly by removing the extremes ).
We live in a time when global capitalism is the dominant economic power ( not socialism ).
Thus the EU operates according to the prevailing orthodoxy. By labelling countries or the EU " left " you appear to be suggesting that socialist principles are at work...they are not, in my view. The medicine prescribed for the Greeks is of the capitalist type...toxic for the poorest.
As an example of capitalism at work, I point you away from Greece and towards Russia.
A recent report from Moscow's Higher School of Economics found that the richest have doubled their wealth in the past 20 years whereas almost 2/3rds are no better of and the poorest are barely 1/2 as wealthy as they were when comunism ended.
The report shows that oligarchs got rich quick by snapping up the country's choicest assets in the immediate post-Soviet period.
( my view, communism went to " gangster capitalism " very quickly indeed ).
The report further shows " two Russias " . The wealthiest 1/5 of the population received a pay cheque equivalent to 198% of its value in 1991, while the poorest 1/5 made only 55% in real terms.
In total, 60% of the population has the same real income or less than the average 20 years ago.
Same old story of capitalism at work!
A man is born to a virgin mother, lives, dies, comes alive again and then disappears into the clouds to become his Dad. How likely is that?
