Link to this page: https://www.socialistparty.org.uk/issue/886/22099
From The Socialist newspaper, 27 January 2016
Davos summit: a broken capitalist system
- Take the wealth off the 1%!
Photo torbakhopper (Creative Commons) (Click to enlarge)
At their annual semi-secret get together in Davos, Switzerland last week, 3,000 bankers, industry chiefs, media moguls and capitalist politicians met to deliberate the state of world affairs.
Their primary concerns were not that 900 children worldwide still die every day from drinking polluted water, or that climate change scientists have warned that 2015 was the warmest year ever recorded.
Nor were they embarrassed that under their ownership of the world economy the wealth gap has now widened to such mind-boggling proportions that just 62 multi-billionaires own the same amount of wealth as the poorest 3.5 billion people across the globe.
This shocking report on inequality from Oxfam, concerned them far less than the news that their private casinos, more commonly known as the world's stock markets, had been experiencing difficulties that were undermining their profits and prospects.
These self-declared masters of the universe were forced to conclude that their system isn't working properly. Pumping the banks full of money through Quantitative Easing has merely created more debt and inflated asset prices.
The much-lauded recovery from the 2008 economic crash is unstable and without real foundation. Now, slowing growth in China, recessionary trends in Europe and plunging oil prices, are all creating a perfect storm of global gloominess.
But once again it's the working class and the poor who will be expected to pick up the tab for capitalism's failures. Our living standards haven't risen during the so-called recovery. On the contrary, savage cuts to jobs, wages and conditions are the new normal.
People know this system doesn't deliver for them and their families. What is needed instead is an alternative for the 21st century - a socialist system, where the real wealth creators, the 99%, control and own the wealth produced, thus providing the 1% represented at Davos with their final redundancy notices.
Why not click here to join the Socialist Party, or click here to donate to the Socialist Party.
In The Socialist 27 January 2016:
Socialist Party news and analysis
Housing: smash the Tory wrecking bill
Davos summit: a broken capitalist system
Google pays pittance for avoiding £2bn tax
Red doors and wristbands scandal
Steelworkers may face benefit cut-off for not seeking bar jobs
Oscars snub black artists: fight racism and austerity in the arts
Labour councillor smears TUSC policy as 'BNP'
Them & Us
Top tweets: #TraditionallySubmissive
Teachers under attack
Teaching: a perfect storm is brewing
Teachers need national strategy for a national struggle
A day in the life of a teacher and mother
International socialist news and analysis
New wave of protests in Tunisia
India: student death exposes caste oppression
What we think
Tories 'Prevent' civil liberties
Council cuts and the fight in Labour
Labour councillor suspended for fighting cuts
Dave Nellist's byelection appeal to Jeremy Corbyn: 'let's discuss how to fight the cuts'
Labour election post-mortem: nothing to report!
The dark arts of Labour's right
Councillors must fight to defend our services
'People's budgets' and local democracy
Lewisham: no backsliding in council cuts fight!
Workplace news and analysis
"I have left work many times in tears" - a council worker
Trade union bill will stretch resources and limit action
Birmingham teachers strike to resist academy attack
24-hour tube strike suspended
Care services under threat in Haringey
Workplace news in brief
The end for deep coal mining jobs in Britain
Obituary: Dean Meehan 1962-2016
Socialist Party reports and campaigns
Protesting against closure of Huddersfield A&E
Coventry children's services closure protest
New Socialist Party branch fights against St Austell austerity
Socialist Party discusses the fight for socialism
Socialist Students bake-off
The Socialist 27 January 2016 |
Join the Socialist
| Audio | PDF | ebook
Phone our national office on 020 8988 8777
Locate your nearest Socialist Party branch Text your name and postcode to 07761 818 206
Regional Socialist Party organisers:
Eastern: 0798 202 1969
East Mids: 0773 797 8057
London: 020 8988 8786
North East: 0784 114 4890
North West 07769 611 320
South East: 020 8988 8777
South West: 07759 796 478
Southern: 07833 681910
Wales: 07935 391 947
West Mids: 02476 555 620
Yorkshire: 0114 264 6551