Sunday, April 05, 2009

¢apitali$m, in©...

As defined by Plato,

"timocracy is a state in which love of wealth and power is the guiding principle of the rulers".

It also was Aristotle's idea of a state in which political power is in direct proportion to property ownership. To the uninitiated in the globalism phenomenon, timocracy appears to be rearing its ugly head. The three executives at the top of the Microsoft ladder now are worth more money than 170 million Americans combined.

As an undergrad business/social sciences double major student in the early 2000's, i always found economic summits (G7, G8, WTO, etc.) to be interesting. On one hand you had all of the top economic powers in the world gathering in one place, with all the security entourage and press in tow. And then, you undoubtedly have protests and demonstrations by ordinary citizen, sometimes violent and sometimes destructive, and of course the riot police with their tear gas, shields and batons, dressed all in black like ninjas.  

The boiling point between law and the general citizenry was almost reached the last couple of days in London ahead of the G20 summit. While I am against violence or/and any form of protest that borders on criminality but the recession wave has brought along renewed forms of hardship for some of us. People are also protesting for climate change in view of how stupid we all may have been in contributing to the destruction of our planet.

There may also have been a barrage of criticisms levelled against both the US and UK in terms of the cash that is being injected into their economic sub-systems, a move some say will lead to further debt in the long term.

Yet this may not be the first time that there have been disturbances ahead of a G summit although it is being described in some quarters as "unprecedented". I'm sure most of us will be hoping an agreement can and will be reached in order to reset the thermostat at a lower temperature for this fever to be brought to an end...

"Capital as such is not evil; it is its wrong use that is evil. Capital in some form or other will always be needed"

~Mohandas Gandhi

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