These days I am frequently reminded of a joke often told in the final years of the ‘communist block’. It is about a dissident passing on the ‘good news’ to another one: ‘Did you hear? Word is, you can’t buy butter any more…’
Irony of fate or not, just two decades after the ‘End of History’ it is another system that seems to be on the verge of a radical meltdown.
The reactions of many governments – not only the one in Washington D.C., but numerous ones over here in Europe, too – makes even the staunchest Marxist holding his breath. We all knew it’s all about big money – but we’ve also learned that, at least, they are trying to hide it under the mantle of democracy and fair competition. Not any more.
Education system collapsing? No money. Maintaining roads and bridges?No money. Health care, pensions, social security? No money. Integration of migrants? No money. Supporting renewables? No money. Growing local and global inequality? Your problem, not mine.
Global players on the capital markets endangered: How many bazillions do you need?
All across the political spectrum there are no illusions who, in the end, will profit from this crisis and who will pay the bill. I really wonder how, under these circumstances the system (and especially its ruling elites) can uphold legitimacy and keep running.
Maybe I should just wonder for how long.
