Capitalism - two views

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Two views on Capitalism First from The Financial Times:
The future of human beings is what matters
For me, capitalism has never been an abstract concept. It is a real, concrete part of everyday life. When I was a boy, my family left the rural misery of Brazil�s north-east and set off for S�o Paulo. My mother, an extraordinary woman of great courage, uprooted herself and her children and moved to the industrial centre of Brazil in search of a better life. My childhood was no different from that of many boys from poor families: informal jobs; very little formal education. My only diploma was as a machine lathe operator, from a course at the National Service for Industry.

I began to experience the reality of factory life, which awoke in me my vocation as a union leader. I became a member of the Metalworkers� Union of S�o Bernardo, in the outskirts of S�o Paulo. I became the union�s president and, as such, led the strikes of 1978-1980 that changed the face of the Brazilian labour movement and played a big role in returning democracy to the country, then under military dictatorship.

The impact of the union movement on Brazilian society led us to create the Workers� party, which brought together urban and rural workers, intellectuals and militants from civil society. Brazilian capitalism, at that time, was not only a matter of low salaries, insalubrious working conditions and repression of the union movement. It was also expressed in economic policy and in the whole set of the government�s public policies, as well as in the restrictions it placed on civil liberties. Together with millions of other workers, I discovered it was not enough merely to demand better salaries and working conditions. It was fundamental that we should fight for citizenship and for a profound reorganisation of economic and social life.
The author? Brazilian President Luiz In�cio Lula da Silva One of the good guys. The other view -- from Reuters:
Iran says capitalism on verge of collapse
Iranian President Mahmoud Ahmadinejad told regional leaders on Wednesday that the capitalist system was close to collapse.

Opening a one-day summit of the 10-nation Economic Cooperation Organization (ECO) including Turkey, Pakistan and other neighbors, he also suggested a single currency should be used in trade between members.

"After the collapse of the closed socialist economy, the capitalist economy is also on the verge of collapse," Ahmadinejad said in a speech.
And the back story:
Like other big oil producers, Iran is facing falling revenue after crude prices plunged about $100 a barrel from a peak of $147 in July, hurting its main source of income. It is also struggling with double-digit inflation.
Dare I say it that Capitalism has not failed, what has failed is Mr. Ahmadinejad's rule... To consider that the $147bbl price would stay a constant is idiocy. He should have been pumping extra money into infrastructure and growing businesses, not using the oil revenues as a cash cow.

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This page contains a single entry by DaveH published on March 11, 2009 11:54 AM.

It's the Economy was the previous entry in this blog.

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