To talk of permanency, on the basis of the experience of a few centuries is immature. But how capitalism is going to end, is a matter of conjecture.
I read a book in which the author, who is well versed in Marxism, opined that people have a habit of living with crises. Do people of earthquake prone areas migrate to safer places? In the same way, people live with economic crises too, according to this author.
If the developed world manage to survive this global crisis, well, we may accept his theory. Greece is already burning with street class war.
ENLIGHTENED CAPITALISM
All of us agree that a worker and an engineer may not get the same salary. An entrepreneur is not satisfied with salary. He wants to make profit. The contradiction pointed out by Marx, between the greed for unlimited profit, keeping down wages to the minimum survival level, and the need to enhance purchasing capacity, which can be done only by increasing wages, has been solved in the developed world by timely negotiations between capitalists and workers. The loss of profit was recouped by exploitation of the workers in undeveloped world. If capitalists agree to be content with reasonable profit, the share of profits given to workers in the name of bonus can be increased, allowing workers to buy more.
But that is a big IF. The greed for more money became so high that they forgot all good manners and went on pick pocketing, not sparing even fellow capitalists. Here is the rub; can a leopard change its spots?
REVOLUTIONS
Marx wrote that every revolution is preceded by a change in the tools of production. He called man a tool making animal. The new economic forces mature in the womb of the old society, he added.
All these things happened during industrial revolution and the violent bloody changes in France, and 13 American colonies and the bloodless Cromvellian revolution in England conformed to these analyses, but the Paris Commune of 1871 did not. There was no change in the tools of production. The new society, established by the communards, did not develop within the womb of the old society. It was rather an abortion caused by the new ideology. The collapse of the first communist state saddened both Marx and Angels.
Lenin tried artificial insemination and succeeded to a great extent, in bringing out a new communist state. But he practically abandoned communism and replaced individual capitalism with state capitalism. Marx was a genius; a scientist in the chaos which came to be known as economics. After almost seven decades, full fledged capitalism came in Russia.
Mao only brought industrial revolution in feudal China.
EGALITARIAN SOCIETY
The ideal social set up, where production and distribution will be regulated by super computers, may not come by wishful thinking. The revolution in communications has brought about the requisite change in tools of production. The only stumbling block is the military. In the United States, the President is a tool in the hands of oil cartels and industrialists. The military supports the president. If they do not like a President, he is killed.
In Pakistan, Burma, Turkey etc. the military calls the tune. In some South American countries, Leftist Governments are coming up, changing the equation between die hard capitalists and progressive forces.
It is too early to write off Marx’s predictions about communist revolution coming about in the most advanced countries first. The whole of Africa, most of Asia and South America are still under feudalism. First capitalism may develop before any futuristic predictions can be made about communist revolution.
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