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Qiushi: Occupy Wall Street a Reflection of the Failure of Capitalism

Two scholars from the Chinese Academy of Social Sciences (CASS) wrote a commentary on what the "Occupy Wall Street” protest says about capitalism. The article said,“The ‘Occupy Wall Street’ protest movement is a true manifestation of current U.S. social problems. It shows that the American government’s economic and financial policies following the financial crisis have greatly disappointed people. Ordinary American’s anger over the sluggish economy, rampant corruption, scant employment opportunities, and poor career prospects have accumulated to the point of exploding. The article also criticized the whole economic, political, and cultural systems’ crises that the American financial crisis brought about.”

In reflecting on the capitalist economic system, the article said, “The root cause of the capitalist financial system’s numerous shortcomings is that it is difficult to accomplish highly efficient national regulation in a capitalist society that is based on private ownership…” It further stated, “The capitalist private ownership system is the source of injustice in social distribution.” Regarding the capitalist political system, it said, “The ‘occupy wall street’ protest demonstrates the non-democratic and extremely hypocritical nature of the capitalist political system.” About capitalist culture, the authors commented, “American youth already shout loud slogans such as ‘We are a generation of revolution!’ ‘We need jobs! We need revolution!’ ‘Eliminate capitalism!’ These slogans have already delivered a big blow to American cultural values and will continue to deliver even bigger blows. What’s more, it proclaimed the crisis of the American culture system on the Internet.”

The article concluded, “The capitalist system is doomed and will be replaced by a more advanced social system. Let’s wait and see.”

Source : Qiushi, October 31, 2011