Europe is in the cusp of a confusing economic saga. Its working class are disgruntled and furious. They take to streets whenever the government signals increased interest rates or working hours. France saw its biggest anti-establishment protests since the French revolution in May of 2016. The unexpected resignation of the British PM wasn’t shocking for Europeans. David Cameroon was forced to quit office lest his economic and political exploits be exposed by the reform oriented left. Britain has been forced to quit the EU with its economy in a mess. An outrageous 40% income tax rate and thousands of factory workers laid off- coupled with Britain’s reluctance to conform to EU policies and single currency had frustrated EU leaders. Hence, they decided to penalize Britain’s bullish behaviour by forcing it to exit the Union.
This cycle of political resignations, corruption scandal exposes’ and bail outs look perpetual. Greece, Italy and Spain have been bailed out by public and institutional money at least ten times collectively since ’08. Italy, France and Britain have experienced untimely ministerial level resignations. Yet, little seems to have changed for these nations that continuously get indebted with loans and regulations. There is a growing expectation for the complete disintegration of the EU. It is marked that the dynamic structures of the various economies are different and an arbitrating body sitting in Brussels seems little to be able to help it. No matter how much the union policy is co-ordinated or aligned, there will be fundamental structural and cultural differences in the EU. Pressure from above has gone much too far and has resulted in serious exploitation of the working class for the weaker nations less imperious nations.
Throughout the continent: rising income, group inequalities, high youth unemployment and a lack of opportunity to engage in society — compounded by decades of state, police corruption and violence — are issues triggering protests against corporatized governments. Citizens occupy public squares in Greece, Spain, Portugal, and Italy to demand real democracy, decent jobs and an end to austerity. Even the reformist policies favour the ultra-rich. Hence, the call for Marxian style reforms and socialism like Scandinavia is being supported by a large majority.
Class struggle, austerity, inflation, unemployment, exploitive tax-system and a burdensome refugee influx from Middle East and North Africa are forces pressurizing Europe. These social issues are spelling unseen troubles with little or no straitjacket solutions. Governments seem to be striving towards stable policy orientation. Most politicians have lost their discretion and would be compelled to give into demands of the people in the future. There have been brutal incidences of clashes between armed state agencies and protestors. One must not forget that Western Europe is still the most democratic region in the world in order to remain so governments must reach an understanding with the people they have sworn to serve righteously. Recession and the dynamically changing socio-economic conditions have given rise to several leftist movements. However, what captures an intellectual’s imagination is the outcry for Marxian style reforms. Mentioning the M word turns the atmosphere into an ideological warfare scenario. An innuendo of communist versus capitalist dichotomy takes over everybody’s conscience. Marx for many is a branded political terrorist or even a blood-sucking communist but that isn’t all very true. In fact, Das Kapital has in recent days become one of Germany’s best-selling books.
Many progressives in Europe support free markets and want Marxian policy to serve as the bedrock for society. Problem remains that Marxism is indeed confused for Stalinist totalitarianism, although Marx was a scholar and Stalin a bad dictator. Through such confusion it is much easier to polarize people in the name of communism than bring them together for the greater good of society. The occupy movement clearly is filled with a lot of educated and well-meaning people and not just “indignant” junkies and homosexuals. A politician once alleged that the working class is lazy and protests are excuses to keep the mood hopeless. A 40% income tax rate and a miserable social security scheme refelects the inherent truth of the comment.
Most of the neo-liberal economists failed to anticipate the crisis. According to them “it was not supposed to happen.” They believed that the market if left alone was capable of balancing out supply and demand. Those were times of Adam Smith and Ricardo when resources were plentiful and the scope of innovation was limitless. The World today is quite different. In a time of scarce resources and automated production processes, there is bound to be lay-offs and overproduction, unless it is systematically monitored and human lives aren’t played with for the sake of profits. Erstwhile critics of Marxism are fastidiously slipping the pages of Marxist writings. Das Kapital is a bestseller now in Germany: the only economy holding the Union together. Germany’s society was least affected during the 2008 meltdown because of its effective education system and quality social security schemes. Germany too has a high tax rate but puts that money into good use. Germans, today are much better off than most of Western Europe.
The 2008 global financial crisis was a failure of big banks. The same banks were bailed out with public money. Why should ordinary people suffer the consequence of a fraudulent banking system? The need for a socialist planned economy is not an invention of Marx or any other thinker. It flows from objective necessity. The possibility of world socialism flows from the present conditions of capitalism itself. It is necessary for the working class to have a greater say in policy else they expropriate the banks, giant monopolies and mobilize the vast unused productive potential to solve the problems of society. The solutions to the issues we face are already in existence.
Over the last 200 years capitalism has built up a colossal productive power. But it is unable to utilise this potential to the fullest. The present crisis is only a manifestation of the fact that industry, science and technology have grown to the point where they cannot be contained in the narrow confines of private ownership and the nation state. Today, 169 years after Marx and Engels wrote about grave-diggers, the truth is almost the exact opposite. The proletariat, far from burying capitalism, are keeping it on life support. Overworked, underpaid workers ostensibly liberated by the largest socialist revolution in history (China’s) are driven to the brink of suicide to keep those in the west playing with their iPads. Chinese money bankrolls an otherwise bankrupt America. Looking at how distressed the Western society presently is the only thing that could be said is that there is an urgent need to humanize the workings of economics and liberate Europe from political tyranny.
