|Overcoming Casino Capitalism|
International protest should remain active until a reorganization of the financial markets has finally been achieved and thus the core questions regarding a better and fairer global order can be tackled. Sustainable development is still an option, according to a paper by the Global Marshall Plan Initiative.
27th January 2011 - Published by the Global Marshall Plan
The Starting Point
For decades, Western politics have relished the ever more vehemently presented philosophy of the "free markets" as the final instance and adequate regulating structure for an increasing number of aspects of life, commencing with the historic "victory" over communism. TINA s the key theme: There Is No Alternative. This theme has proven to be wrong. There are always alternatives. However, there are also strong interests which benefit from the status quo and which would like to prevent such alternatives by all means. Admittedly, a lot has been achieved in the course of globalization through the development of market forces. China and India are great examples but the achievements have come at high costs. Today, the system is extremely over-indebted. And the increasing threat concerning the environmental and resource-related basis may result in the potential loss of secured promises in the form of broadly existing debts, if further political mistakes are not avoided.
Furthermore, the social balance has taken a significant turn to the worse in many places over the past years. The social climate between people has become harsher which in turn has caused people to become bitter. A great number of developed countries have developed vast low-income sectors and tenuous working conditions while the taxes to be paid by the great winners of such processes have been lowered consistently. In other parts of the world, human dignity is being spurned. In the end, the question is: Is it worth it? Success yes, but all too ofter it is mere bogus success with many half-truths, many bluff packages, massive environmental burdens, over-intensive use of resources, a built up of climate problems, hunger and marginalization of great portions of the populations, re-distribution from the bottom to the top, "emptying" of democracy, legalized and illegal evasion of taxes, shrouding of property and cash-in structures under the following motto: Off-shore, Off-sheet. It is scandalous that the greatest cash-in takings globally contribute the lowest tax rates.
And furthermore, on top of it all, there is the financial crisis and the EURO crisis. These crises have their origins, among other things, in an insufficient stability culture of some European states. Even more and in this particular moment of time they are a consequence of the world financial crisis. After incredible cash-in takings by few people, which completely lacked in justification, the consequence is now a socialization of losses. All this happens at the expense of already grossly indebted states which are charged - rightly in some cases, unrighteously in others - with inefficiency, self-service, lack in discipline and overdoings in social welfare by interested parties while such states are at the same time exploited again as a consequence of speculations as to their currencies and purposeful rating adjustments. The broad mass of people has once again fallen victim to such processes.
The great shiftlessness of individual states - supra-national coordination (governance) as the answer
Ever-accelerating global casino-capitalism allows for ever-accelerating speculations, creatively designed, marked and manipulated anywhere and anytime. The national state as an individual state is powerless at the mercy of the financial sector. The still most powerful state, the USA, seems to be a puppet on the strings of financial capital. The EU is mostly too much at issue in order to allow for powerful acting and the supra-national cooperation necessary on the level of the UN or G20 could not yet be achieved due to significant discrepancies in interest. Time and again, the USA, and often Great Britain as well, take on a special part in this game.
What might be an alternative to the unacceptable current status quo? Politics must establish pegs. It must break the power of the financial sector and of the shadow banking system. It must establish adequate guiding rails for global markets. Such rails must be suitable to overcome future crises and allow for a perspective for wealth for all people and future generations - all this in accordance with ecological sustainability and global social balance. Consequently this is all about a comprehensive implementation of sustainable development rather than just talking on the subject. The implementation of the millennium development goals which were signed in the Millennium Declaration in 2000 by 192 heads of states should be a minimum target, as the Global Marshall Plan Initiative has again and again requested right from the start.
From coordinated politics on environment and climate to a global social minimum, from taxing transactions to isolating and/or precluding of financial and tax havens - we finally need sustainable solutions. Off-shore, off-sheet must come to an end. Agreeing on such a program will have to include cross-funding transfers from wealthy parts of the world to developing parts of the world in the sense of a Global Marshall Plan. In turn, joint protection standards for environmental and social issues might finally be implemented. An "order of balance" and market fairness is the main target. The monetary and credit system should once again primarily assume a catalytic "serving" role. Substantial returns in the financial sector should only be achievable in the form of a fair participation to returns in the fiscal economy supported by the financial sector via the contribution of the needed financing.
[Refer to source below for the rest of the report and solutions]
|Climate Change & Environment|
|Global Financial Crisis|
|Global Conflicts & Militarization|
|IMF, World Bank & Trade|
|Poverty & Inequality|
|Aid, Debt & Development|
|The UN, People & Politics|
|Food Security & Agriculture|
|Health, Education & Shelter|
|Land, Energy & Water|
|Economic Sharing & Alternatives|