OUR BETTERS IN ACTION

In the nature of capitalism it is necessary to have wise and learned people in control. Thus the need for politicians, diplomats, senior civil servants, financiers, political economists, bankers and lawyers. The list goes on and on of people who produce no wealth whatsoever but must be looked up to as "our betters" because they understand and can operate the system. So what are we underlings to make One of the defences of present day society and its class divisions is that because of the complex of this piece of farce?
"It would appear that the bank branded "Germany's Dumbest Bank" by Bild newspaper after an error handed $426 million to Lehan Brothers as it collapsed, can't get anything right. An executive at KfW Bankengruppe fired for the error has won a court case and two year's salary and bonuses." (Times, 3 July)
The whole thing beggars belief - far from them controlling capitalism, it controls them. Let’s get rid of this crazy system! RD

A BNP SUBMARINE?

The success of the British National Party at the recent European elections surprised many. Their success was put down by some as due to their new more "moderate" policies. How "moderate" they have become can be gauged by the following."Boats carrying illegal migrants to Europe should be sunk Nick Griffin, the leader of the British National party, said yesterday. In a provocative intervention, Griffin, elected to the European parliament last month, called on the EU to introduce "very tough" measures to prevent illegal migrants entering Europe from Africa. "If there's measures to set up some kind of force or to help, say the Italians, set up a force which actually blocks the Mediterranean then we'd support that," Griffin told BBC Parliament's The Record Europe. "But the only measure, sooner or later, which is going to stop immigration and stop large numbers of sub-Saharan Africans dying on the way to get over here is to get very tough with those coming over. Frankly, they need to sink several of those boats."
(Guardian, 9 July) Nick Griffin as a U-Boat commander is the sort of fantasy that must appeal to the crazed nationalism of some of the BNP membership. RD

AN UNCARING SOCIETY

"The body of an 85-year-old woman has been found inside her flat in central Edinburgh, five years after she was last seen by neighbours. The remains of Isabella Purvis were discovered only after water from her flat dripped into the property below. ... Last year, the body of an elderly woman, who had relatives living nearby, was recovered from a property in Stirling, 12 months after her death. An old man in Highland region who had died at home remained undiscovered for some time, despite the fact that he was a cancer out-patient and had missed medical appointments." (Times, 4 July) RD

Capital Accumulation Discussion Meeting

	An aspect of Marxian economics : Capital Accumulation
	COMMUNITY CENTRAL HALLS, 304 MARYHILL ROAD, GLASGOW (5 MINUTES FROM ST. GEORGE’S CROSS UNDERGROUND STATION) Wednesday the 15th July 2009 8.30pm P. Hendrie will open the discussion on this subject.
	Out Dated Marxism ?
	We are all aware of the critics of Karl Marx who say that he may have had something to say about early capitalism, but his criticisms are old-fashioned and out of date. Away back in 1867 Marx wrote about the "so-called primi-tive accumulation of capital" wherein he showed how the capitalist class in England had obtained its great wealth by such acts as the enclosure acts to throw peasants off their land. Today a similar process is taking place in Peru. "President Alan Garcia laboured Saturday to contain Peru's worst political violence in years, as nine more police officers were killed in a bloody standoff with Amazon Indians fighting his efforts to exploit oil and gas on their native lands. The new deaths brought to 22 the number of police killed — seven with spears — since security forces moved early Friday to break up a roadblock manned by 5,000 protesters. Protest leaders said at least 30 Indians, including three children, died in the clashes. Authorities said they could confirm only nine civilian deaths, but cabinet chief Yehude Simon told re-porters that 155 people had been injured, about a third of them with bullet wounds." (Associated Press, 6 June) Far from being outdated Marx's view on the development of capitalist ownership is being re-enacted in today’s newspaper headlines.
	What is Marxian economics?
	At the moment output is falling, unemployment is growing, prices are rising in essential goods -all things that no one wants to happen, but which nevertheless do. What this means is that the human social activity of producing and dis-tributing wealth is not under the conscious control of human beings. They do not control the condi-tions under which they produce and distribute wealth but, on the con-trary, are subject to laws which, while not themselves laws of nature, operate as if they were, as an external force governing human activities. Economics is precisely the study of "the laws" which govern human activity in the field of wealth production and distribution. An important point must be made straight away: economic laws only come into operation under certain social circumstances-when, in fact, the production and distribution of wealth is not under conscious social control. When, as today, the means of production are monopolised by a section only of society and are used to produce wealth to be sold on a market with a view to profit. In other words, economic laws are the laws of capitalist production and they will not operate when capitalism has been abolished through the establishment of socialism (when production will be for the direct use of the whole community). This is why we said that these laws are not natural laws. To say that they are, would be to assume that capitalism was the natural form of human society. Which is the mistake made by the early theorists of economics or "political economy" as it was then called, such as Adam Smith and David Ricardo who Marx criticised for doing so. Indeed this is what Marx's Critique of Political Economy (the title of a book he published in 1859 as well as the sub-title of Capital) basically amounts to. Nevertheless, as long as capitalism exists, these laws exist and operate just like natural laws; they govern human activity in the field of wealth production and distribution and act as external constraints on what humans can do. An understanding of these laws is very important; it is in fact a basic part of our case since it leads to the conclusion that capitalism just cannot be reformed so as to serve the common interest and therefore must be abolished if today's social problems are to be solved. Our interest in economics is simply to understand how capitalism works, and not at all to recommend policies for governments to pursue. This is an important point since "economics" and "economists" today are regarded, and regard themselves, as policy advisers.
	Don't recycle Capitalism, BIN IT
	Glasgow Branch of the Socialist Party

CANCER AND THE PROFIT MOTIVE

"Supplies of vital medicines, including those used in the fight against cancer, are running short because UK pharmacies and drug wholesalers are selling them abroad to maximise profits. ... The shortage is being caused by the falling value of sterling which has meant that UK pharmacies and drug wholesalers can earn greater returns by selling medicines to the continent. ... Last night leading cancer charities expressed alarm at the situation. "Cancer Research UK urges the Department of Health to ensure that no patient experiences any delay in getting prescription drugs," said Hilary Jackson, the organisation's policy manager. "We are concerned to hear of cases where patients have been delayed access to prescribed medication or have to find an alternative supplier. This causes extra distress at an already difficult time."
(Observer, 5 July) RD

CAPITALISM POLLUTES

"The pollution caused by half a century of oil extraction in Nigeria is one of the world's most disturbing examples of the curse of natural resources, a global rights lobby group said Tuesday. Amnesty International said environmental pollution in Nigeria's southern oil region, the Niger Delta, had deprived tens of millions of people of their basic rights to safe food, clean water and good health. In a damning report released Tuesday, Amnesty described the situation in the Niger Delta, home to 31 million people, as a "human rights tragedy" which had fuelled anger and conflict. "People living in the Niger Delta have to drink, cook with, and wash in polluted water; they eat fish contaminated with oil and other toxins -- if they are lucky enough to still be able to find fish," said the report. Farmland in the region, one of the most important wetlands on earth, is being destroyed by oil spills." (Yahoo News, 30 June) RD

THIS SPORTING LIFE

"Sport, of course, is all about the glory of winning and (if you are British) the nobility of defeat. Oh no it's not. It's all about the money. Which is why, Max Duthie, of Bird & Bird, says: "In almost every major sport today there are tensions between the regulatory bodies on the one side and the players or the teams on the other - and normally the argument is over money." Certainly in the three sports stories that are dominating this week - the Formula One punch-up, the Wimbleton showdown and the Sentana knock-out - the lawyers have all been poised, on the bench, waiting to make their entrance when required. Patrick Wheeler, of Collyer Bristow, says that there are four key areas of law that come into play in a sports dispute: intellectual property, contract, competition and regulation. All four are pertinent in the Formula One controversy." (Times, 25 June) RD

A SENSE OF VALUE?

"A rare antique whisky miniature has fetched £1,500 at auction – the equivalent of £750 per nip. The 90-year-old single malt, from the iconic Springbank Distillery in Campbeltown, Argyll, contains only two measures worth of whisky. But the 5cl bottle attracted interest from around the world at Bonhams' whisky auction in Edinburgh. Bonhams' whisky consultant Martin Green said: "Springbank is very highly rated in the single malt world, and this is a 1919 – the very earliest vintage put on the open market. "It is iconic, highly collectable, exclusive and also highly drinkable. You'd get two or maybe three good measures out of it." (Scotsman, 20 June) RD

MIND THAT GAP

"India needs to curb a concentration of wealth greater than that seen in Brazil and Russia or risk becoming hostage to a corporate oligarchy that will depress its rapid economic growth. A study funded by the Asian Development Bank found that, by early last year, India had 50 billionaires who together controlled wealth equivalent to 20 per cent of gross domestic product and, reportedly, 80 per cent of stock market capitalisation. “This concentration of wealth and influence could be a hidden time bomb under India’s social fabric,” warned the report. It was prepared by economists for the US-based Emerging Markets Forum."
(Financial Times, 24 June) RD

PENURY AT THE PALACE

"The Queen is seeking the first increase in the annual civil list for nearly 20 years to plug a looming £5m-a-year funding gap for the royal household. Palace officials have told the Treasury they need the dramatic rise to the £7.9m grant because they are exhausting their cash reserves and cannot make further cuts in spending. ...The £7.9m annual grant covers the cost of the official royal households, from banquets and furnishings to housemaids and footmen. Accounts to be published tomorrow reveal the monarchy costs more than £40m a year in public funds, excluding security costs, which are thought to be about £50m per year."
(Sunday Times, 28 June) RD

A WORLD WITHOUT LEADERS

"For about 94,000 of the 100,000 years of human history, people lived and organised themselves as hunter-gatherers without a centralized leadership apparatus. Hunter-gatherers began the transition to early chiefdoms and embryonic states between 3,000 and 6,000 years ago. Only in the previous 100-500 years have there been state-level polities. The earliest human societies were acephalous: they existed without formal rulers or leaders. For this reason, they were also probably without heroes, a pattern which is starkly at odds with what has been claimed of human history generally and which also contrasts with the contemporary leadership field." Taken from the inaugural lecture by the Professor of Education at the University of Cambridge "Leadership: Its genealogy, configuration and trajectory."
(Independent, 17 June) RD

A CANCEROUS SOCIETY

"Washington – Millions of people living in nearly 600 neighbourhoods across the country are breathing concentrations of toxic air pollutants that put them at a much greater risk of contracting cancer, according to new data from the Environmental Protection Agency. The levels of 80 cancer-causing substances released by automobiles, factories and other sources in these areas exceed a 100 in 1 million cancer risk. That means that if 1 million people breathed air with similar concentrations over their lifetime, about 100 additional people would be expected to develop cancer because of their exposure to the pollution. (Associated Press, 24 June) RD

SCRAPING BY ON £342,500 A YEAR

Sir Fred Goodwin has accepted a reduction in his pension payout, but some claim
his charity is a PR exercise

"Sir Fred Goodwin, the former Royal Bank of Scotland chief executive who led the company to the brink of collapse and whose £16m pension provoked national outrage, has agreed to a £200,000 reduction in his annual payout. The 50-year-old, who was in charge of RBS when it recorded the worst losses ever seen by a British company, has volunteered to have his pension reduced from £555,000 a year to £342,500 – a cut of 38 per cent." (Independent, 19 June) RD

A $40MILLION BARGAIN

"Hedge fund supremo Louis Bacon, the founder of London-based Moore Capital, recently bought a house in Oyster Bay Cove, Long Island. I say "house" but the 17,900 sq ft, 10-bedroom, 10-bathroom, 15-fireplace, Normandy -style pile could safely be described as a mansion. That's not all. Located on the 60-acre estate, just past the tables, is an indoor tennis court. Yup, indoor tennis. ... Northwood has been on the market for almost three years, with a price tag of up to $40m (£24m)." (Sunday Times, 28 June) RD

CHRIST AND CAPITALISM

"Any reasonable reading of the Gospels will tell you that Christ was not automatically hostile to people who are in wealthy occupations." Stephen Green, HSBC chairman and Anglican priest. (Observer, 28 June) RD

LOADED BUT LOONY

"Shari Arison, Israel's richest woman and the controlling shareholder of the country's second-largest bank, said on Sunday she has visions and receives messages "from above," but they do not influence the management of her companies. Arison set off an uproar in Israel after she revealed that information in an interview with Channel Two broadcast late on Saturday. "I get a picture, I can feel it. If it's fire, I feel like I'm burning. If people are dying I feel pain," she confirmed in an interview with Reuters. The Israeli-American Arison along with her brother inherited billions of dollars from her late father Ted Arison, who founded Carnival Corp, the world's biggest cruise ship operator. She is the controlling shareholder in Bank Hapoalim and controls Housing and Construction, Israel's biggest construction company. She said these visions are meant to help lead the world elsewhere. To this end, she is releasing her first book this week, entitled "Birth - When the Spiritual and the Material Come Together," which details her journey both spiritually and in business." (Yahoo News, 22 June) RD

DOWN AND OUT DOWN UNDER

The OECD report says retirees should take out annuities which offer a guaranteed
retirement benefit

"An OECD report on pensions has found Australia has one of the highest rates of poverty for people aged over 65. The report says more than one in four Australian seniors live in poverty by international measures, which is the fourth highest old-age poverty rate in OECD countries, after Ireland, Korea and Mexico." (ABC News, 24 June) RD

THE PRICE OF COAL

"Ten-year old Yilong is already a statistic. Born at the center of China's coal industry, the boy is mentally handicapped and is unable to speak. He is one of many such children in Shanxi province, where coal has brought riches to a few, jobs for many, and environmental pollution that experts say has led to a high number of babies born with birth defects. Experts say coal mining and processing has given Shanxi a rate of birth defects six times higher than China's national average, which is already high by global standards. "They looked normal when they were born. But they were still unable to talk or walk over a year later," said farmer Hu Yongliang, 38, whose two older children are mentally handicapped. "They learnt to walk at the age of six or seven. They are very weak. Nobody knows what the problem is."
(Yahoo News, 23 June) RD

POVERTY? AN INVESTMENT OPPORTUNITY

"Responding to the global recession, former U.S. President Bill Clinton's philanthropic summit this year will focus on ways for companies to profit from tackling poverty, climate change, health and education. To keep companies engaged in fighting the world's problems amid an economic crisis that has seen millions of people lose their jobs, summit organizers said the meeting had to evolve from an event where corporate chiefs showed up and just wrote checks to support humanitarian work. "We recognized that the CGI (Clinton Global Initiative) of old was no longer going to be a feasible model to move forward on," said Edward Hughes, CGI's deputy director and director of program for the fifth annual summit this September." Companies couldn't simply treat us as a place where their foundation would come and write checks to NGOs (nongovernmental organizations), but rather for them to remain engaged, (CGI) had to deliver value to their core bottom line, to their business operations," he said. "We needed to justify this as being a real value-return exercise." ... This year, the Clinton Global Initiative will concentrate on four new areas -- harnessing innovation for development, strengthening infrastructure, developing human capital and financing an equitable future. It says each of those areas offers companies investment opportunities, while at the same time tackling world ills."
Yahoo News, 23 June) RD

OWNERSHIP AND KNOWLEDGE

When technology makes knowledge globally available, reshaping the economics of
buying and selling it becomes crucial

"Ten years ago, a piece of software called Napster taught us that scarcity is no longer a law of nature. The physics of our universe would allow everyone with access to a networked computer to enjoy, for free, every song, every film, every book, every piece of research, every computer program, every last thing that could be made out of digital ones and zeros. The question became not, will nature allow it, but will our legal and economic system ever allow it? This is a question about the future of capitalism, the economic system that arose from scarcity. Ours is the era of expanded copyright systems and enormous portfolios of dubious patents, of trade secrecy, the privatisation of the fruits of publicly funded research, and other phenomena that we collectively term "intellectual property". As technology has made a new abundance of knowledge possible, politicians, lawyers, corporations and university administrations have become more and more determined to preserve its scarcity. So will we cling to scarcity just so that we can keep capitalism?" (New Scientist, 24 June) RD