NUOVO PAESE Novembre 2020 on line. L’editoriale di Frank Barbaro: “Rendimento del capitale”

Rendimento del capitale

Editoriale di Frank Barbaro
Mentre i modelli parlamentari ed economici occidentali vacillano – la pandemia globale ha solo tolto i vestiti all’imperatore – i pretesti e le toppe sono in pieno vigore e il denaro non è un oggetto.
Le principali istituzioni finanziarie globali come il Fondo monetario internazionale (FMI), la Banca mondiale e la Banca centrale europea hanno inspiegabilmente fatto un passo indietro nel dare consigli ai governi nazionali.
Prima della pandemia, la tendenza finanziaria era che i governi nazionali riducessero il loro debito attraverso politiche economiche austere caratterizzate da potature e privatizzazioni che si sono rivelate socialmente devastanti.
L’esempio più recente e lampante è stata la Grecia, a cui è stata messa una camicia di forza economica per equilibrare i suoi conti nazionali.
La pandemia globale sembra aver contagiato le istituzioni finanziarie sovranazionali: Tra i sintomi c’è l’inversione improvvisa sulla questione del debito.
Il loro attuale consiglio è che i governi spendano quanto necessario per affrontare le attuali difficoltà in materia di disoccupazione e di erosione dei redditi disponibili.
Il 15 giugno di quest’anno, l’amministratore delegato del FMI Kristalina Georgieva ha consigliato ai governi: “Per favore, spendete, spendete più che potete. Ma tenete le ricevute”.
Georgieva ha poi aggiunto che i trilioni di dollari iniettati per stimolare le economie nazionali potrebbero essere preda della corruzione.
Tuttavia, è difficile sapere quali entrate i governi dovrebbero mantenere, e sebbene la sua proposta surreale alluda alla necessità di correttezza finanziaria, ciò che serve è la responsabilità politica sulle politiche pubbliche e sulla spesa.
Questa inversione di tendenza da parte dei maestri del denaro del mondo sul debito pubblico – una volta non auspicato, ora consigliato, non è ancora chiaro.
Altrettanto poco chiaro è chi sia debitore di questa fenomenale quantità di debito e quanto sarà premuroso il capitale una volta che la paura della pandemia sarà passata e le questioni di salute pubblica, di politica economica e di ordine pubblico potranno essere risolte.

Capital return

by Frank Barbaro
As Western parliamentary and economic models falter – the global pandemic has only removed the emperor’s clothes – the pretexts and patches are in full force and money is no object.
Key global financial institutions like the International Monetary Fund (IMF), World Bank and the European Central Bank have inexplicably backflipped in their advice to national governments.
Before the pandemic financial urging was for national governments to reduce their debt through austere economic policies marked by pruning and privatisations that have been socially devastating.
The most recent and glaring example was Greece which was put in an economic straightjacket to balance its national accounts.
The global pandemic seems to have infected supranational financial institutions with one of the symptoms being an overnight reversal on the question of debt.
Their current advice is for governments to spend as much as they need to confront current difficulties of unemployment and eroding disposable incomes.
On June 15 this year managing director of the IMF Kristalina Georgieva advised governments to: “Please spend, spend as much as you can. But keep the receipts.”
Georgieva elaborated further saying that the trillions of dollars injected to stimulate national economies could be prey to corruption.
However, it is difficult to know what receipts governments should keep, and although her surreal proposal hints at the need for financial probity, what is needed is political accountability about public policies and expenditure.
This turnaround by the world’s money masters on government debt, which was once bad but is now good, is still unclear.
Equally unclear is who is owed this phenomenal amount of debt and how caring capital will be once the pandemic fear passes and issues of public health, economic policies and law and order, can be untwisted.

ALTRI ARTICOLI

The Communist Party of Australia’s 100-Year legacy

October 2020 marked the 100th anniversary of the founding of Communist Party Australia (CPA).

by Gaetano Greco

From the height of its power in the late 1940s with over 20,000 members to its demise in 1991, when the party decided to disband, its political legacy has left an indelible ‘red’ mark on Australian politics.

While in electoral terms only one communist was ever elected in the Queensland parliament its sphere of influence was wide ranging.
The CPA maintained control of influential militant unions; it inspired the peace and anti nuclear movement; advanced women’s liberation; advocated for migrant workers’ rights and anticipated environmental politics with the famous construction union’s ‘Green Bans’.
Its recognition of colonisation and genocide committed against indigenous Australians and its rejection of the white Australia policy long before any others did also should not be forgotten.
As the main intellectual organising hub for progressive politics in Australia the CPA came under vicious attack by Robert Menzies’ 1951 referendum to ban the Communist Party and up to the late eighties party members were still being spied on by ASIO’s security agents.
With deep roots amongst the working class the party had the democratic and organisational capacity to thread together a cultural, industrial, political and
environmental platform to improve the lot of working-class people. A creative and unique characteristic that brought together disparate movements with class issues is no longer a critical feature of contemporary progressive parties in Australia.
Australian politics owes a lot to the CPA’s achievements and militancy and its legacy should be revisited today. It would not only provide important lessons on combating economic neoliberal policies, but also to assist working people in imagining a post capitalist world.

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