Obama is being accused of being a socialist, and I think that is right, though I do not think of it as an accusation at all. For the people f the US actually are asking for a change towards a far more regulated capitalism, which is really the definition of socialism. What we are seeing in the US is not a struggle between races anymore but a struggle between the super rich and those that are now living in fear of their jobs and pensions. This is the beginings of a true class struggle within the US. And this struggle is showing itself everywhere in the world – not just in the obvious places. In Europe too, and between the rich and the poor economies in the fight over the World Trade Organizations. I even believe that the confrontation between Islam and Christianity too is a form of a class struggle between the rich and the poor, with poverty and lack of hope driving more and more young people into the arms of fundamentalism.
Is that one of the fall-outs of Globalization too ? ……
……..As the world becomes one, in that oneness there is such disparity that a class struggle inevitably begins. Global media also ensures that information is dispersed so widely and quickly that everyone knows exactly how the other half lives. This in economic theory is called the ‘demonstration effect’, and is supposed to be a motivating factor to higher aspirations. But today with so much disparity and so many entry blocks to ones hopes and aspirations, the ‘demonstration effect’ can often be a cause for violent struggle too.
How wrong the economists have been. For they have looked at economic theory from the rationality of numbers and statistics, without taking into account humanities, sociology and most importantly History.