“The world is fundamentally changing. Wealth and power are rapidly becoming concentrated at the top and the big global corporations are making massive amounts of money. Meanwhile, the American middle class is being systematically wiped out of existence as U.S. workers are slowly being merged into the new ‘global’ labor pool.” Michael Snyder, The Business Insider.
When one considers when the heyday of capitalism occurred, they might remember learning about the short period between about 1945 to 1975, marked by an increase in the relative and average standard of living in developed countries, primarily the US and some western European states. After the devastation of WWII, both Democrats and Republicans could grant reforms to improve society thanks to massive profits. There was and is not plenty of capital to potentially spend effectively. In fact, the reason for Capitalism’s success is to produce enough capital to use effectively, leading to a middle class in many places of the world.
However, it is clear that this period of relative growth has ended, and the decline of Capitalism is in full view. There is a deep structural crisis to capitalism, underlying the faults in the modern market economy, and driving many deaths worldwide. Neo-liberal policies have infested the international economy and political sphere, undermining the lives of working people globally for the purposes of generating huge profits for just a few. Over the past 30 years, there has been a decline in living standards in developed nations around the world, especially considering the huge amount of dormant profits lying in private banks and personal accounts of politicians, capitalists, and the elite.
One of the main causes, at least for the US, for the decline in living standards under capitalism is the decline in the manufacturing industry. Starting in the 1970s, many large businesses have stopped constructing new manufacturing facilities, in search of better profiting and harsher exploitation overseas. This has led to fewer manufacturing jobs in the US, which used to be an integral part of the national workforce. There then began a loss of living-wage jobs in the US, a slowdown of the economy, and the creation of more speculative bubbles. Now, many low-wage service jobs have replaced manufacturing jobs. Many acting now accounts for about a quarter of the number of jobs it did mid-century, and the decline has changed the US economy forever, as long of those jobs are kept overseas.
What to do? The ruling elite never gives concession without a being forced to in some way, either by long-term cultural changes, or medium-term mass movements. Mass movements must demand change, include participation from as many people as possible, and act outside of the government sphere, to be effective. The Occupy movement was seen as a popular response to the declining economy and capitalist crisis some years ago, and the US has since seen movements like BLM, 15Now, and NoDAPL make gains and win support worldwide. Movements like these must continue especially now when facing such a reactionary and dangerous government. Only radical and sustained movements will win gains for working people, effectively raising living standards now. Only by creating strength from the ground-up for working people through organizing and activism can capitalism be challenged. Many involved in this world aim to create a society where people are treated fairly, with dignity, and with respect. Many envision a healthier planet, and safer living and working conditions. For now, this can only happen by demanding change from those who create it. Join us!
