Why Coronavirus Could Spark a Capitalist Supernova
Capitalism now faces the deepest crisis in its several centuries of existence. Why is supernova–the explosion and death of a star–an apt metaphor for what could now be about to unfold?
India’s oldest Socialist Weekly!
Editor: Dr. G.G. Parikh | Associate Editor: Neeraj Jain | Managing Editor: Guddi
Capitalism now faces the deepest crisis in its several centuries of existence. Why is supernova–the explosion and death of a star–an apt metaphor for what could now be about to unfold?
The virus does not discriminate, attacking oppressed and oppressor alike. Unfortunately, the US government does more than discriminate. Washington has seen the pandemic as an opportunity.
The US is not only experiencing a serious economic crisis but also a profound humanitarian crisis that its people have been suffering for decades.
It is essential to link the fight against the virus to questions such as the abolition of ‘Third World’ debt, an end to IMF/World Bank neoliberal structural adjustment packages, reparations for colonialism, a halt to the global arms trade, an end to sanctions regimes, and so forth.
Substantial state intervention in the economy—frowned upon by the apostles of neoliberal economics—is back to the center stage across the world.
The COVID-19 crisis has brought to the fore the fundamental contradiction underlying contemporary globalisation, namely, the contradiction between the interests of finance and those of the people.
Democratic governments are using the virus to crack down on freedoms, while those regimes that were authoritarian to begin with have used the pandemic to grab even more power.
There are no known reasons as to why the disease’s rate of spread appears to be lower in India. It may be because of insufficient testing.
The inside story of how one Indian state is flattening the curve through epic levels of contact tracing and social assistance.
In the light of the current crisis, the time has come to revisit Dr Amebdkar’s ideas on democratic state socialism proposed by him in his book ‘State and Minorities’ written in 1947.
Janata Weekly is India’s oldest independent socialist weekly.
Ever since its founding in 1946, Janata has voiced its principled dissent against all conduct and practice that is detrimental to the cherished values of nationalism, democracy, secularism and socialism, while upholding the integrity and the ethical norms of healthy journalism. For more than seventy years now, week after week, it has continued to analyse the changes taking place in the country and the world from a socialist standpoint, and thus promote the spread of socialist ideology in the country.
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