Have you ever wondered how the billionaire Russian oligarchs and plutocrats managed to emerge so quickly from the ruins of the USSR? Why 1% of Chinese now control 50% of “communist China’s” total wealth and assets? Why the middle class in the US is dramatically shrinking? Why Canadians are going into debt just to keep abreast of the cost of living? Why austerity budgets are being implemented everywhere at a time of unprecedented global wealth? And why there is such growing outrage at the political and economic domination of the 1% over the 99%?
Have you considered that it is deliberate neo-liberal policy criminally and fraudulently sold to the public under false pretenses, and not because of the “virtuous circle” of free-market economics?
Such is, in any case, the suggestion of Asia Times correspondent Pepe Escobar in a recent article, A History of the World, BRIC by BRIC: Neoliberal Dragons, Eurasian Wet Dreams, and Robocop Fantasies.
The trickle-up process of capital accumulation and concentration that is wiping out the middle classes in Europe, Canada, and the US, and which even a neo-liberal cheerleader like Amy Chua could note in her book World on Fire, isn’t just accidental I would suggest. Given the strange common pattern between what is happening in the BRICS countries (Brazil, Russia, India, China, South Africa), the Eurozone, and in Fortress (or Bunker) North America, it would appear to be a common policy.
“Property is theft”, Karl Marx once stated, meaning by this not personal possessions, but economically productive capital. And observing the near gangsterism of current intensive capital accumulation, seemingly facilitated and abetted by the ruling parties of various states, it’s hard not to concur with Marx’s conclusion. “Trickle-up” — often debt-financed by middle-class householders pursuing their own self-destruction — seems to be deliberate policy.
Why that might be so is, perhaps, not difficult to comprehend. In order to compete in the “global market”, capital must become global-sized. To finance this kind of expansion of Big Capital requires fresh influx of new capital. Fresh influxes of new capital must come from somewhere to finance corporate global expansion. What further justification is needed to plunder the middle-class (since the poor have very little wealth to pillage anyway)?
Despite the crocodile tears that public figures often weep about the plight of the middle classes or working poor, their policies are designed to facilitate the transfer of wealth from an unconcentrated state to a concentrated state. Government has become, in effect, the hand-maiden and servant of a corporate elite whose motives are hardly distinguishable from those of a common street gang.