Tag Archives: economic collapse

Did Capitalism Fail The Average Citizen Of Society?

During the past fifty years, capitalism has boasted that is was superior to communist and socialist societies because its principle of free enterprise ensured that goods would be produced at the lowest cost and the entire society would benefit along with those who had wealth. Der Spiegel, raised an important issue concerning capitalism. “Their failure has become ours- and the promise of a common good has evaporated along with faith in democratic capitalism.” The editors of Der Spiegel charge the current economic crisis is a result of a few people “who have been on a big time gambling binge.” Some may argue such economic problems are cyclical in nature and within time things will return to normal — or will they?

According to Der Spiegel, “this time fundamental issues are at stake. Is a market economy nothing more than an invitation to engage in excessive gambling?…… Now the challenge is to keep people from losing all faith in the markets.” We have all been party to a system in which those with wealth and power insisted they should be trusted because they alone, not any government, knew what was best for society. To even suggest government intervention or supervision immediately received a response that such actions were examples of “socialism” and the loss of freedom and prosperity.

Perhaps, it is time to rethink fundamental ideas about capitalism and find a middle way between excessive government intervention and uncontrolled capitalists. During the New Deal in the 1930s, Franklin Roosevelt created a balance, and people like Ronald Reagan threw out the balance. Does anyone today have any respect for Ronald Reagan? He certainly wasn’t and FDR!

Israel Urged To Confront West Bank Economic Issues

Israel is coming under extednsive pressure from the world community to implement new policies governing the daily lives of Muslim inhabitants of the West Bank. President Bush is expected in Israel within a few weeks, and nations are suggesting Israel might strengthen his ability to impact blocked Israel and Palestinian negoatiations if there was a significant effort to revitalize the West Bank economy. A new report from the World Bank reported zero growth in 2007 for the West Bank and blamed as a contribution factor “effects of the closures and movement restrictions.” The report noted the almost complete collapse of the West Bank economy was dramatically impacted by the growth in checkpoints. Even Tony Blair has recommended action on this key issue.

There is growing support among the International Quartet of nations to designate areas of the West Bank in which Palestinian forces would be trained to assume responsibility for ensuring safety and peace. One possible location is the northern West Bank city of Jenin in which 700 Palestinian security forces have been trained by American and Jordan supervisors.

On one hand, Israel complains about security issues, on the other hand, it refuses to sanction any experiments in which Palestinians assume responsibility for maintaining law and order. Unless experiments are attempted the present stalemate will continue into the forseeable future and at some point the Abbas government will be forced to resort to militant action. Of course, at that point, Israel will blame Palestinians and never assume responsibility for its own lack of action as a cause of militancy.