Modern industrial civilization has developed within a certain system of convenient myths. The driving force of modern industrial civilization has been individual material gain, which is accepted as legitimate, even praiseworthy, on the grounds that private vices yield public benefits, in the classic formulation. Now, it has long been understood, very well, that a society that is based on this principle will destroy itself in time. It can only persist, with whatever suffering and injustice that it entails, as long as it is possible to pretend that the destructive forces that humans create are limited, that the world is an infinite resource, and that the world is an infinite garbage can.
At this stage of history either one of two things is possible. Either the general population will take control of its own destiny and will concern itself with community interests, guided by values of solidarity, sympathy and concern for others, or alternatively there will be no destiny for anyone to control. As long as some specialized class is in a position of authority, it is going to set policy in the special interests that it serves. But the conditions of survival, let alone justice, require rational social planning in the interests of the community as a whole, and by now that means the global community. The question is whether privileged elite should dominate mass communication and should use this power as they tell us they must - namely to impose necessary illusions, to manipulate and deceive the stupid majority and remove them from the public arena.
The question in brief, is whether democracy and freedom are values to be preserved or threats to be avoided. In this possibly terminal phase of human existence, democracy and freedom are more than values to be treasured; they may well be essential to survival.
To be an effective trader, basically what you do is step in to a transaction between two people and shove them far enough apart that they can't communicate. Then you go to the seller, tell them that you and your buddies are their only market and you will pay them $XYZ for everything they have. A real low-ball figure. Do your best to put them in the fucking poor house.
You then take whatever you bought to the person who was already interested in buying it, and tell them you and your buddies are the only source for whatever it is you bought, and if they want any of it they'll have to pay you $XXYYZZ. An absurdly overvalued figure. Do your best to put them in the fucking poor house.
What's going on is that traders at no point are about facilitating exchanges between two parties. Every step of the way, their goal is to screw everybody who's still holding a single red cent so hard that their fillings fall out, and then collect those fillings -- gold, too, is an investment.
It’s not that they’re bad people. It reveals an institutional pathology. There is an institutional structure that says that if you’re the CEO of a major corporation, which incidentally means that you have enormous influence in the political system, then you simply don’t care about what happens to the world in the next generation, including your own grandchildren. What you care about is profits tomorrow. It’s an institutional imperative.
I should say that when people talk about capitalism it's a bit of a joke. There's no such thing. No country, no business class, has ever been willing to subject itself to the free market, free market discipline. Free markets are for others. Like, the Third World is the Third World because they had free markets rammed down their throat. Meanwhile, the enlightened states, England, the United States, others, resorted to massive state intervention to protect private power, and still do. That's right up to the present. I mean, the Reagan administration for example was the most protectionist in post-war American history.
Virtually the entire dynamic economy in the United States is based crucially on state initiative and intervention: computers, the internet, telecommunication, automation, pharmaceutical, you just name it. Run through it, and you find massive ripoffs of the public, meaning, a system in which under one guise or another the public pays the costs and takes the risks, and profit is privatized. That's very remote from a free market. Free market is like what India had to suffer for a couple hundred years, and most of the rest of the Third World.Talk titled "Sovereignty and World Order" at Kansas State University, September 20, 1999
In capitalist society individuals are controlled by a pitiless law usually beyond their comprehension. The alienated human specimen is tied to society as a whole by an invisible umbilical cord: the law of value. This law acts upon all aspects of one's life, shaping its course and destiny. The laws of capitalism, which are blind and are invisible to ordinary people, act upon the individual without he or she being aware of it. One sees only the vastness of a seemingly infinite horizon ahead. That is how it is painted by capitalist propagandists who purport to draw a lesson from the example of Rockefeller — whether or not it is true — about the possibilities of individual success. The amount of poverty and suffering required for a Rockefeller to emerge, and the amount of depravity entailed in the accumulation of a fortune of such magnitude, are left out of the picture, and it is not always possible for the popular forces to expose this clearly. (A discussion of how the workers in the imperialist countries gradually lose the spirit of working-class internationalism due to a certain degree of complicity in the exploitation of the dependent countries, and how this at the same time weakens the combativity of the masses in the imperialist countries, would be appropriate here, but that is a theme that goes beyond the scope of these notes.)
In any case, the road to success is portrayed as beset with perils — perils that, it would seem, an individual with the proper qualities can overcome to attain the goal. The reward is seen in the distance; the way is lonely. Furthermore, it is a contest among wolves. One can win only at the cost of the failure of others.
Personally, I'm in favor of democracy, which means that the central institutions of society have to be under popular control. Now, under capitalism, we can't have democracy by definition. Capitalism is a system in which the central institutions of society are in principle under autocratic control. Thus, a corporation or an industry is, if we were to think of it in political terms, fascist; that is, it has tight control at the top and strict obedience has to be established at every level - there's little bargaining, a little give and take, but the line of authority is perfectly straightforward. Just as I'm opposed to political fascism, I'm opposed to economic fascism. I think that until the major institutions of society are under the popular control of participants and communities, it's pointless to talk about democracy.
Imperialism was born when the ruling class in capitalist production came up against national limitations to its economic expansion. The bourgeoisie turned to politics out of economic necessity; for if it did not want to give up the capitalist system whose inherent law is constant economic growth, it had to impose this law upon its home governments and to proclaim expansion to be an ultimate political goal of foreign policy."The Origins of Totalitarianism"
It wasn't the "European banks" that got hurt from the mortgage-backed bunkum. They were made whole to the tune of 100 cents on the dollar. The people who are paying for it are the same ones that are paying for it over here. You and me. Our parents. Our kids.
They are creating a "breakaway" culture, who within decades will be the only ones with access to capital, to new technologies, to advanced health care. That's the ultimate effect of the dramatic increase in wealth disparity. Fifty years of this and they'll be as far ahead of the rest of us as the American settlers were of the Native Americans. When two cultures exist side-by-side and one is so far in advance of the other, it doesn't work out well for the ones on the bottom. We are seeing evolutionary branching based on wealth alone.
See, capitalism is not fundamentally racist -- it can exploit racism for its purposes, but racism isn't built into it. Capitalism basically wants people to be interchangeable cogs, and differences among them, such as on the basis of race, usually are not functional. I mean, they may be functional for a period, like if you want a super exploited workforce or something, but those situations are kind of anomalous. Over the long term, you can expect capitalism to be anti-racist -- just because its anti-human. And race is in fact a human characteristic -- there's no reason why it should be a negative characteristic, but it is a human characteristic. So therefore identifications based on race interfere with the basic ideal that people should be available just as consumers and producers, interchangeable cogs who will purchase all the junk that's produced -- that's their ultimate function, and any other properties they might have are kind of irrelevant, and usually a nuisance.
A good way of finding out who won a war, who lost a war, and what the war was about, is to ask who's cheering and who's depressed after it's over - this can give you interesting answers.
So, for example, if you ask that question about the Second World War, you find out that the winners were the Nazis, the German industrialists who had supported Hitler, the Italian Fascists and the war criminals that were sent off to South America - they were all cheering at the end of the war. The losers of the war were the anti-fascist resistance, who were crushed all over the world. Either they were massacred like in Greece or South Korea, or just crushed like in Italy and France. That's the winners and losers. That tells you partly what the war was about.
Now let's take the Cold War: Who's cheering and who's depressed? Let's take the East first. The people who are cheering are the former Communist Party bureaucracy who are now the capitalist entrepreneurs, rich beyond their wildest dreams, linked to Western capital, as in the traditional Third World model, and the new Mafia. They won the Cold War. The people of East Europe obviously lost the Cold War; they did succeed in overthrowing Soviet tyranny, which is a gain, but beyond that they've lost - they're in miserable shape and declining further. If you move to the West, who won and who lost? Well, the investors in General Motors certainly won. They now have this new Third World open again to exploitation - and they can use it against their own working classes. On the other hand, the workers in General Motors certainly didn't win, they lost. They lost the Cold War, because now there's another way to exploit them and oppress them and they're suffering from it.Forum with John Pilger and Harold Pinter in Islington, London, May 1994