CAPITALISM IN ACTION

Socialists always point out how inefficient capitalism is and how inside a socialist society everyone would work to the best of their ability and take according to their needs. Contrast that with what is happening today. Men and women of the working class throughout the world are being debarred from producing wealth. They are being thrown onto the industrial and commercial scrapheap of capitalism because of the profit motive.
"Up to 51 million jobs worldwide could disappear by the end of this year as a result of the economic slowdown that has turned into a global employment crisis, a United Nations agency said on Wednesday. The International Labour Organization (ILO) said that under its most optimistic scenario, this year would finish with 18 million more unemployed people than at the end of 2007, with a global unemployment rate of 6.1. More realistically, it said 30 million more people could lose their jobs if financial turmoil persists through 2009, pushing up the world's unemployment to 6.5 percent, compared to 6.0 percent in 2008 and 5.7 percent in 2007. In the worst-case economic scenario, the Global Employment Trends report said 51 million more jobs could be lost by the end of this year, creating a 7.1 percent global unemployment rate."
(Reuters, 28 January) RD