Capitalism versus socialism: The great debate revisited
by James Petras
Rebelion June 2004
www.globalresearch.ca 28 June 2004 Economic Performance: Growth, Employment and Poverty
Under communism the economic decisions and property were national and publicly owned. Over the past 15 years of the transition to capitalism almost all basic industries, energy, mining, communications, infrastructure and wholesale trade industries have been taken over by European and US multi-national corporations and by mafia billionaires or they have been shut down. This has led to massive unemployment and temporary employment, relative stagnation, vast out-migration and the de-capitalization of the economy via illegal transfers, money laundering and pillage of resources.
In Poland, the former Gdansk Shipyard, point of origin of the Solidarity Trade Union, is closed and now a museum piece. Over 20% of the labor force is officially unemployed (Financial Times, Feb. 21/22, 2004) and has been for the better part of the decade. Another 30% is "employed" in marginal, low paid jobs (prostitution, contraband, drugs, flea markets, street venders and the underground economy). In Bulgaria, Rumania, Latvia, and East Germany similar or worse conditions prevail: The average real per capita growth over the past 15 years is far below the preceding 15 years under communism (especially if we include the benefits of health care, education, subsidized housing and pensions). Moreover economic inequalities have grown geometrically with 1% of the top income bracket controlling 80% of private assets and more than 50% of income while poverty levels exceed 50% or even higher. In the former USSR, especially south-central Asian republics like Armenia, Georgia, and Uzbekistan, living standards have fallen by 80%, almost one fourth of the population has out-migrated or become destitute and industries, public treasuries and energy sources have been pillaged. The scientific, health and educational systems have been all but destroyed. In Armenia, the number of scientific researchers declined from 20,000 in 1990 to 5,000 in 1995, and continues on a downward slide (National Geographic, March 2004). From being a center of Soviet high technology, Armenia today is a country run by criminal gangs in which most people live without central heat and electricity." ...
http://www.globalresearch.ca/articles/PET406B.html
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posted 06 September 2004 06:50 PM
