dosierung innopran xl bei kindern Cytoxan 50mg rezeptfrei kaufen Panmycin junior 500mg preisvergleich Aricept 5mg 14 stück kaufen dosierung bactrim meerschweinchen preis für Cardura 4mg dosierung serevent 1.5 Accutane 40mg filmtabl preisvergleich Rizact 10mg kaufen ohne rezept Reminyl 4mg preisvergleich Nizagara 50mg preisvergleich Viagra Extra Dosage generika 130mg rezeptfrei atrovent pferd dosierung Extra Super Viagra ratiopharm 200mg preisvergleich Gasex 100mg schmelztabletten kaufen Diabecon 60mg billig kaufen Abana 60mg 84 stück preis ciplox dosierung zum abnehmen preise von Cardizem 180mg diclofenac emulgel dosierung Zoloft retard 100mg kaufen Medrol 4mg filmtabletten preisvergleich Cholestoplex 3mg kosten Antabuse 250mg tabletten nebenwirkungen einleitung cipro dosierung Urispas 200mg 14 stück preis hyaluronic acid dosierung lernen Trileptal 300mg preisvergleich 12 stück differin lösungskonzentrat dosierung cyklokapron anfangsdosierung brahmi schlafstörungen dosierung Lithium 300mg preise schweiz Panmycin 500mg kaufen dosierung Shuddha Guggulu 60mg Benzac tabletten 20mg packungsbeilage Prograf 5mg preisvergleich V-gel 30mg tabletten dosierung cialis dosierung angst Caverta 50mg ohne rezept kaufen promethazine dosierung leitlinie aciphex akne dosierung Adalat 30mg kaufen Hyaluronic Acid 60mg dosierung mebendazol (Plendil rezeptfrei) wurmkur tablette 10mg Beconase AQ 200mg tabletten nebenwirkungen Risperdal ratiopharm 3mg preisvergleich slim tea dosierung bei pcos Grifulvin V 125mg dosierung inderal express bestellung Ranitidine schmerzgel 150mg preisvergleich Diclofenac Gel 20mg preis 84 stück Cafergot hexal 100mg preisvergleich Geriforte retard 100mg kaufen himplasia katzenschnupfen dosierung Prednisone 10mg dosierung pilex derm saft dosierung Allegra 120mg kaufen preisvergleich Bystolic 5mg naltrexone dosierung einnahme Precose-ratiopharm® 25mg kaufen Tofranil 75mg tabletten wirkung Evista 60mg filmtabletten nebenwirkungen Zovirax 200mg preisvergleich kohlpharma Singulair 10mg preis 7 stück lanoxin dosierung nagelpilz Ventolin 100mg tabletten kaufen Viagra Super Active 100mg dosierung dosierung dulcolax kindern Zyrtec 10mg kosten Zestril hexal 10mg hartkapseln preisvergleich lopid rr dosierung Norvasc kaufen 5mg ranitidine dosierung insulinresistenz Lincocin kaufen 500mg xenical gel dosierungen Citalopram-ratiopharm® 20mg preisvergleich Cymbalta 60mg preisvergleich Liponexol kaufen 60mg Diflucan 50mg filmtabletten / 12 st nebenwirkungen Clozaril generikum 100mg kaufen preisvergleich Kemadrin tabletten 5mg Cymbalta basics 20mg filmtabletten einnahme Cardizem 60mg 84 stück preisvergleich dosierung speman hund Floxin 400mg kaufen Isoniazid 2.300mg kaufen preise für Urispas 200mg Himplasia 30mg ohne rezept kaufen dosierung elavil abnehmen preisvergleich Prilosec 40mg Cialis Jelly 20mg schmerztabletten Etodolac retard 400mg kaufen Tulasi 60mg filmtabletten nebenwirkungen Retin-A 0,025 20mg kaufen Metoclopramide 10mg rezeptpflichtig Pristiq 100mg online kaufen ohne rezept dosierung Cialis 5mg Sinemet dolo 300mg preisvergleich Tulsi Sleep 1mg kaufen preis Clozaril 100mg preisvergleich Januvia 100mg schmerztabletten Lipitor pfizer 40mg preis 4 stück paroxetine dosierung bei psychose preis Shuddha Guggulu 60mg österreich Diarex schmerztabletten 30mg artane dosierung krätze Exelon tabletten 3mg nebenwirkungen Lopid 300mg 84 preisvergleich Duphalac 100mg preisvergleich Keflex 250mg kaufen ohne rezept madenwürmer mobic dosierung Abilify generika 10mg rezeptfrei pfizer Seroquel 200mg kaufen Tinidazole 500mg kaufen Tricor pfizer 160mg preis 4 stück Cialis Super Active 20mg rezeptpflichtig Kamagra Chewable 100mg kaufen Levitra Plus 1a pharma 400mg kaufen Lady era filmtabletten 100mg wirkung Trial Erection packs 3 1mg generika kaufen Prandin schmerztabletten 2mg Super Avana schmerztabletten 160mg tretinoin dosierung chlamydien schwangerschaft Zyvox junior 600mg kautabletten montelukast nebenwirkungen Rosuvastatin 10mg günstig kaufen Grifulvin V 250mg schmelztabletten rezeptfrei Retino-A Cream 0,025 20mg rezeptfrei bestellen Abana generika 60mg kaufen Diltiazem 180mg preisvergleich Malegra FXT plus 140mg kaufen Levothroid 50mg preis schweiz Zithromax 100mg rezeptfrei kaufen Reglan 10mg dosierung Slip Inn 1mg kaufen preis preisvergleich Levitra Super Active 40mg Cipro 1a pharma 250mg kaufen Prednisolone 10mg dosierung fml forte bestellung einleitung mit femcare dosierung Endep tabletten 25mg dosierung dostinex dosierung psychose Dulcolax 5mg schmelztabletten preis lilly Tretinoin 0,025 20mg preisvergleich Cipro schmelztabletten 750mg preise dosierung nexium 1g Neurontin schmelztabletten 400mg rezeptfrei clonidine gegen gyno dosierung Prazosin 1mg online kaufen Paxil 30mg online kaufen Zanaflex 2mg 5 ml dosierung Protonix lingua 40mg schmelztabletten Minocycline dolo extra 50mg preisvergleich brand amoxil dosierung nach körpergewicht preis für Meclizine 25mg preis Trial Erection packs 2 1mg 12 stück Erythromycin 2.500mg kaufen Rizact junior 10mg kautabletten nebenwirkungen Emsam 5mg kaufen dosierung Doxazosin 2mg Paxil 10mg pfizer kaufen keflex derm saft dosierung Antivert 25mg 20 stück preis Baclofen 25mg rezeptpflichtig Cymbalta 40mg tabletten preisvergleich Hydrochlorothiazide 25mg kaufen rezeptfrei Trial Erection packs 3 ratiopharm 1mg hartkapseln preisvergleich Benemid 500mg generika preisvergleich Plendil 5mg kaufen Lasuna 60mg kaufen rezeptfrei Imitrex 50mg tabletten einnahme Shatavari 60mg kaufen Nizagara 100mg filmtabletten wirkung Oxytrol schmerztabletten 5mg Diakof 100mg preisvergleich Ditropan resinat 5mg kaufen Cialis Extra Dosage 60mg dosierung ginette-35 resinat dosierung erwachsene Accutane 20mg tabletten packungsbeilage Diflucan 50mg 4 stück preis Clarina 30mg dosierung Forzest lingua 20mg dosierung pyridium migräne dosierung Vasotec 5mg kosten ponstel dosierung bei fischen preis Aceon 4mg 4 stück kosten Synthroid 75mg confido dosierung und wirkung Noroxin 400mg preisvergleich Tenormin 100mg preisvergleich viagra sublingual dosierung bei katzen Calcium Carbonate 500mg rezeptfrei bestellen Cymbalta 40mg filmtabl preisvergleich Viagra Extra Dosage 200mg kaufen preis für Aceon 8mg Eulexin generika 250mg preisvergleich Tofranil lingua 50mg kaufen Naprosyn 250mg zäpfchen dosierung mestinon prolong welche dosierung extra super viagra dosierung bei schlafstörungen Imdur 20mg preisvergleich Synthroid 75mg kosten dosierung roxithromycin bei pco Diabecon 60mg preis 28 stück olanzapine haarausfall dosierung Trial Erection packs 2 1mg 4 stück preisvergleich Zithromax soltab 500mg schmelztabletten Cialis Super Active 40mg kaufen dosierung arcoxia dragees Etodolac 200mg online kaufen preisvergleich Yougara 1mg Finax 1mg preisvergleich preisvergleich Viagra Super Active oral jelly 150mg Hytrin 5mg ohne rezept bestellen Accutane trockensaft 30mg preis Lioresal 10mg schmelztabletten preisvergleich Benzac 20mg preisvergleich lotrisone dosierung zäpfchen Brand Amoxil tabletten 500mg dosierung preisvergleich Cleocin dolo extra 150mg preisvergleich Risperdal tabletten 2mg Paxil 30mg kmr preisvergleich Coumadin 2mg kmr preisvergleich preise für Hoodia 400mg Zerit 40mg preis 14 stück lilly Ranitidine 150mg preisvergleich cialis soft dosierung und anwendung Atarax 10mg preisvergleich dosierung rumalaya gel 1g combivent angststörung dosierung Aciclovir 400mg kaufen dosierung estrace 1g cefadroxil trockensaft dosierung katze Bupropion 150mg kaufen erfahrungen Liv 52 120mg filmtabletten testberichte dosierung viagra jelly bei pco Cafergot 100mg in holland kaufen tadalis sx stillzeit dosierung cozaar stillzeit dosierung zestril dosierung madenwürmer Lynoral oral jelly 50mg preisvergleich avodart dosierung notfall Minocin 50mg kaufen rezeptfrei clozaril dosierung beipackzettel Anafranil 50mg filmtabletten preisvergleich Reminyl kaufen 8mg Cardura 4mg kaufen rezeptfrei dosierung von robaxin bei pco Lukol lingua 60mg preisvergleich Tadacip 10mg online kaufen Imitrex 50mg filmtabletten nebenwirkungen Pristiq 1a pharma 100mg kaufen Viagra Super Active 50mg zäpfchen preis deltasone tropfen dosierung Inderal schmerzgel forte 23 40mg/g preisvergleich Viagra 100mg filmtabletten testberichte Speman 60mg preis 12 stück Prilosec lingua 20mg kaufen Xenical lingua 60mg schmelztabletten Uroxatral 10mg filmtabletten kaufen Abilify 20mg schmelztabletten preisvergleich inhalation mit salbutamol und accutane dosierung zantac dosierung für katzen Vasotec 10mg preis schweiz Aciphex 20mg filmtabletten nebenwirkungen Midamor zäpfchen 45mg rezeptfrei preisvergleich Dulcolax dolo extra 5mg 20 stück preis Sominex 25mg österreich Ranitidine ratiopharm 300mg preisvergleich Ranitidine 1a pharma 300mg kaufen Periactin kaufen 4mg Cipro oral jelly 500mg preisvergleich Cardizem lingua 60mg dosierung Prednisone 10mg online kaufen Actos mini 15mg kautabletten nebenwirkungen minocycline sr 75 dosierung Betnovate 20mg pfizer kaufen Hydrochlorothiazide 25mg preisvergleich Nizagara 100mg kaufen Deltasone 40mg preisvergleich dosierung viagra sublingual mensch Mentat DS syrup 100mg preis 7 stück entocort dosierung bei schlafstörungen Advair Diskus 250mg dosierung flomax trockensaft katze dosierung Serophene 100mg kaufen ohne rezept Adalat lingua 30mg dosierung Celebrex 100mg filmtabletten testberichte preisvergleich Abana 60mg 12 Torsemide schmerztabletten 20mg Avana 50mg dosierung Viagra Plus 400mg 28 stück kaufen Lipitor 10mg filmtabletten / 12 st nebenwirkungen Mycelex-g schmerztabletten 100mg Viagra Plus 400mg tabletten erfahrung Propranolol 80mg dosierung Accutane 40mg dosierung Atorlip-20 lingua 20mg smt preisvergleich Prinivil 5mg tabletten nebenwirkungen Exelon preisvergleich 6mg Levitra Super Active 20mg rezeptfrei kaufen Tegretol 200mg rezeptfrei kaufen Elavil 10mg filmtabletten wirkung preise für Keppra 250mg Diflucan 50mg filmtabletten preisvergleich preisvergleich Suhagra tabletten 100mg Levothroid 100mg 12 stück preisvergleich Endep 25mg filmtabletten erfahrungen Prednisone ratiopharm 5mg preisvergleich Shallaki preisvergleich 60mg Geriforte Syrup 100mg 84 stück preis tretinoin stillzeit dosierung Kamagra Chewable 100mg kaufen rezeptfrei glucotrol xl dosierung bei psychose Neurontin basics 300mg filmtabletten erfahrungsberichte Liponexol 60mg preise schweiz Risperdal trockensaft 3mg preis Acivir Pills lingua 200mg dosierung Cardura 4mg preis schweiz Provera 10mg 20 stück preis Floxin 200mg preisvergleich Acivir Pills 200mg tabletten nebenwirkungen Lexapro 5mg rezeptfrei kaufen dosierung von Epivir-HBV 150mg Finax 1mg rezeptpflichtig preise für Detrol 1mg tenormin hartkapseln dosierung Skelaxin 400mg schmelztabletten rezeptfrei Kytril schmerzgel forte 23 1mg/g preisvergleich Doxycycline 200mg preisvergleich pletal dosierung abstillen Trial Erection packs 2 1mg preisvergleich ohne rezept propranolol augentropfen dosierung Triamcinolone 4mg schmelztabletten Himcolin 30mg 84 stück preis Risperdal 2mg in deutschland kaufen preisvergleich Nexium 20mg Toprol XL lilly 25mg preisvergleich Cytotec generika 200mg preisvergleich Silvitra 120mg preisvergleich preis für Risperdal 4mg Seroquel 200mg kaufen Levitra Super Active tabletten dosierung 20mg dosierung Avana 200mg cialis professional übliche dosierung Septilin 60mg online kaufen dosierung calan resinat Aciclovir prolong 400mg retardtabletten nebenwirkungen Doxazosin 2mg 14 stück preis Haldol 10mg filmtabl preisvergleich Orlistat 120mg preis 7 stück Plendil ratiopharm 5mg filmtabletten nebenwirkungen Aciphex 10mg rezeptfrei aus deutschland Lisinopril zäpfchen 5mg rezeptfrei Amaryl 1mg filmtabletten packungsbeilage preisvergleich Cymbalta dolo extra 20mg 20 stück ginseng gel dosierung ibuprofen viagra sublingual dosierung Aleve 250mg preis schweiz coumadin mindestdosierung Prandin hexal 1mg kaufen Grifulvin V 250mg kaufen arava resinat packungsbeilage dosierung depakote dosierung beipackzettel Ceftin 250mg filmtabletten anwendung Zantac 150mg kaufen rezeptfrei dramamine dosierung bei schlafstörungen Keflex 250mg schmelztabletten preisvergleich Lopid 300mg 8 stück preisvergleich Tulsi Sleep pfizer 1mg kaufen Citalopram mups 20mg 90 stück preis Viramune 200mg filmtabl preisvergleich Vytorin 20mg preis 7 stück Abilify 15mg filmtabletten testberichte Sinequan 10mg dosierung dosierung carbozyne bei kindern Propranolol 40mg tabletten wirkung Atrovent 20mg generika preisvergleich Sinequan tabletten 75mg kaufen Clozaril 25mg 12 stück preisvergleich Lukol 60mg kaufen Advair Diskus 100mg preise österreich Cefixime tabletten 12 100mg packungsbeilage Ceftin lingua 250mg preisvergleich Viagra Professional 100mg rezeptfrei bestellen Azulfidine 500mg filmtabletten 28 stück preis richtige dosierung von evecare Metformin junior 850mg preisvergleich Sinequan resinat 10mg kaufen sumycin resinat dosierungen Paxil 30mg schmelztabletten rezeptfrei duetact augentropfen dosierung Tulsi Sleep tabletten 1mg nebenwirkungen Kamagra Effervescent 100mg schmelztabletten Micardis 40mg 8 stück preisvergleich herpes zoster zyrtec dosierung Atrovent pfizer 20mg preis 4 stück Nolvadex lingua 10mg schmelztabletten avapro angststörung dosierung Haldol mups 10mg preisvergleich Ponstel 250mg 4 stück preis super avana dosierung für katzen Mircette retard 15mg kaufen Strattera 18mg filmtabletten erfahrungen preisvergleich Casodex 50mg 98 sinequan dosierung einnahme Norvasc 5mg filmtabletten preisvergleich Toprol XL 100mg kaufen Viagra 100mg filmtabletten kaufen Viramune 200mg kaufen erfahrungen Altace 10mg preis schweiz Zithromax 250mg kaufen Cytoxan 50mg wo kaufen Precose 25mg 84 stück preisvergleich bystolic dosierung brustkrebs Lopressor 50mg preisvergleich Tegretol pfizer 400mg preis 4 stück Accutane 40mg 100 stück preis flonase dosierung schlafen viagra dosierung keuchhusten preis für Sildalis 120mg dosierung vasotec hamster NPXL 30mg online kaufen Paroxetine 10mg 12 stück preis Erythromycin 500mg kosten Seroflo 250mg kaufen rezeptfrei Lamictal 200mg 84 stück preisvergleich preisvergleich Triamterene 75mg finax dosierung notfall Crestor filmtabletten 10mg 120 st preisvergleich welche dosierung von viagra jelly preisvergleich Combivent 100mg Peni Large 30mg filmtabletten testberichte evista fehlgeburt dosierung Detrol generika 4mg kaufen Noroxin 400mg 12 preisvergleich Keftab tabletten 750mg preisvergleich preisvergleich Propecia 5mg 12 stk Cardura 4mg filmtabletten 28 stück preisvergleich dosierung Septilin 60mg Floxin 400mg kaufen Deltasone 40mg 4 stück preis Bactrim 480mg online kaufen maximale dosierung unisom Brahmi 60mg 84 stück preisvergleich Quibron-t generika 400mg rezeptfrei Cyklokapron 500mg online kaufen Elavil 75mg dosierung Haldol 10mg rezeptfrei kaufen Zaditor 1mg schmelztabletten ohne rezept Lithium sildenafil 150mg kaufen kosten Slip Inn 1mg gicht synthroid dosierung preisvergleich Diflucan oral jelly 150mg Cymbalta mups 40mg 90 stück preis Allegra schmerzgel forte 23 180mg/g preisvergleich Doxazosin basics 2mg filmtabletten einnahme Metformin preisvergleich 500mg Amaryl 4mg filmtabl preisvergleich Roxithromycin tabletten 150mg kaufen Viagra Super Active 50mg pfizer preisvergleich Orlistat 120mg preisvergleich apotheken Fluoxetine kaufen 20mg preis für Requip 2mg Female Cialis 20mg preisvergleich Provera 5mg kaufen Cholestoplex junior 2mg preisvergleich Sinequan pfizer 25mg preisvergleich Torsemide 10mg preis schweiz Malegra FXT Plus generika 160mg rezeptfrei Clomid 50mg in deutschland kaufen dosierung von Fucidin 10mg Glucophage pfizer 500mg kaufen Prednisolone 5mg preisvergleich Naprosyn 500mg filmtabletten anwendung Retin-A 0,05 20mg bestellen ohne rezept Toprol XL dolo 25mg preisvergleich diovan dosierung nach körpergewicht Keflex tabletten dosierung 250mg Silagra 50mg preise schweiz Copegus 200mg dosierung Detrol 2mg tabletten anwendung Bactrim 480mg rezeptpflichtig Chloramphenicol 250mg 12 stück preisvergleich Viagra hexal 25mg hartkapseln preisvergleich Rumalaya 60mg schmelztabletten Cipro generika 500mg kaufen Zithromax 500mg preisvergleich Imdur 20mg schmelztabletten erfahrungen Deltasone 10mg filmtabletten testberichte paralytischer ileus tinidazole dosierung Noroxin mups 400mg kaufen Malegra FXT Plus 160mg rezeptfrei bestellen flagyl er dosierung aufsättigung Nizoral 200mg 28 stück preis Lamictal hexal 100mg kaufen Terramycin 250mg kaufen rezeptfrei Cialis Soft 20mg filmtabletten preisvergleich Retin-A 0,05 20mg dosierung bystolic dosierung katzen
Home arrow Reports arrow Red Flag Manuscript: The Decline of Western Market Fundamentalism
Red Flag Manuscript: The Decline of Western Market Fundamentalism Print E-mail
Written by NNL, AEF, AT   

[Editor's Note: Qiushi Online republished an article from Red Flag Manuscript on Western Market Fundamentalism. The article claimed that the recent global financial crisis has proven that Capitalism is approaching its end; that the Wall Street oligarchs and the U.S. government launched an unprecedented disaster affecting everyone on the planet; and that the world is turning to Marxism for a solution. The author, Yu Zurao, is a guest researcher at the World Socialism Research Center, Chinese Academy of Social Sciences. The following is a translation of the article.] [1]

Since the 1970s, Neo-liberalism has replaced Keynesianism as the mainstream economic theory for the West's ideology and economic policies. It gradually became a tool in the hands of the U.S. government to push its hegemony on the rest of the world, to carry out peaceful revolution in Socialist countries, and to implement neo-colonialism in developing countries. In modern economic history, no economic school has had such a big impact on the international political and economic environment as Neo-liberalism. However, the global economic turmoil that started in September 2008 swept away Neo-liberalism's power and prestige. This global financial and economic crisis heralded the bankruptcy of Neo-liberalism. Looking at this recession that has caused such a major catastrophe, scholars, politicians, and even the general public around the entire world are reflecting on the situation and trying to find new solutions.

I.  Capitalism's Comprehensive Crisis: Wall Street Oligarchs and the U.S. Government Launched an Unprecedented Disaster Affecting Everyone on the Planet

In August 2008, Lehman Brothers declared bankruptcy. This symbolized the start of the most severe recession since the 1930s. The crisis started with the broken financing of credit in banks, but quickly spread to the real economy. At the peak of the recession, 140,000 companies and 140 banks in the U.S. declared bankruptcy, U.S. industrial production decreased by 46.2 percent, and the Western world's industrial production decreased by 37.2 percent. The recession caused severe damage to the Western countries' economies: their bubble economy burst, the stock market collapsed, and their assets decreased in value dramatically. According to the Asian Development Bank's report on March 9, 2009, in 2008, global financial assets lost over US$50 billion in value, the equivalent to the total GDP for the entire world for one whole year. For the past five years, the average U.S. household's net worth has dropped 36 percent, from US$102,900 to US$66,800. About 11 million households became insolvent (e.g. the mortgage was higher than the market value of the house). According to the Federal Reserve's statistics, the recession has wiped out American's wealth accumulated over the past 20 years. The number of unemployed has increased dramatically. The International Labor Organization's report showed that about 50 million jobs have disappeared since the recession started in 2008. By the end of 2011, 196 million people throughout the world had lost their jobs. The number is estimated to have risen to 202 million by the end of 2012; the global unemployment rate is expected to reach 6.1%. The employment rate in developed countries is not expected to recover to its pre-recession level of 2008 until the end of 2016. For one period, the unemployment rate in the U.S. climbed to nearly 10 percent and later settled at around 8 percent. Unemployment in the European Union (E.U) reached 24.7 million in the first quarter of 2012, adding 193,000 from the previous quarter and 2.1 million from the previous year. The austerity policy that the E.U. adopted caused a further deterioration in the employment situation in Europe: a large number of unemployed people joined the ranks of those below the poverty level.

The recession exacerbated the polarization of the rich and the poor. The previously wealthy society showed signs of getting poor. With the bursting of the economic bubble, homeowners' assets have shrunk dramatically and the middle class faces a harder time. Some media have said that the middle class is disappearing. Those with mid to low incomes were hurt the most. According to Mexico's El Universal Online's report on January 24, 2012, the most recent census data in the U.S. showed that the recession has left 46 million Americans living below the poverty line, creating a new high for the past 52 years. The U.S. Congressional Budget Office's report on October 25, 2011, claimed that, from 1979 to 2007, the after tax income for the richest one percent of families increased 275 percent, but only 18 percent for the poorest 20 percent of families. In 2010, the U.S. poverty rate climbed to 15.1 percent. In 2009, the number of people who lived on food stamps in the U.S. reached 32.2 million.

The recession did not just hurt the working class in the developed countries; the people in developing countries were hurt even worse. After the recession, the U.S. and the European countries used economic and administrative means to transfer the crisis to developing countries, compounding the catastrophe.

The crisis has lasted for five years. Each government has tried to rescue its own economy, but they have not yet fully recovered, and unemployment rates are staying high, governments' spending is greater than their incomes (and thus governments stay in deep debt), bailout initiatives are like drinking poison to quench thirst, and social conflicts are exacerbated. Thus, the West is full of "uncertainty."

II. In the West, It Has Been a Trend for People to Reflect on the Recession, Criticize Neo-liberalism and the Washington "Consensus," Challenge U.S. Hegemony, and Denounce Financial Monopoly Capitalism.

A. On September 17, 2011, the "Occupy Wall Street" movement started in the U.S. It demonstrated a change in the dissatisfaction that the lower class public in the West had with Capitalism and the government's policies that bragged about freedom, democracy, and human rights. That dissatisfaction changed from a simple discussion to an organized political movement. This movement claimed, "We are the 99 percent and we will no longer tolerate the greed and corruption of the 1 percent." [2] It was characterized by its extreme political position, directly targeting the Wall Street financial oligarchs, the U.S. government, and the neo-liberal economic policies that the government adopted. Though the "Occupy Wall Street" movement didn't have an efficient organization or a political agenda, it did not stop there. None of the inherent conflicts in Capitalism that led to this political movement were solved. The crisis is not over yet.

B. In the West, many scholars, officials, and politicians in the Neo-liberalism school, after facing the recession and reality, and after reflecting deeply, were moved to criticize Neo-liberalism. A well-renowned Professor of Economics, Iwao Nakatani, looked back at the economic theory that he had learned and taught and said that he was really naïve to have believed in the value of Capitalist globalization and the market supremacy that he once promoted. He believed that if the Japanese could have a free economy like the U.S. had and become a society in which the market mechanism could fully function, the Japanese would be as rich and happy as the Americans. When he worked on government policies, he advocated having Japan adopt the U.S. economic system, policies, and structure. The recession destroyed that illusion. He finally arrived at the clear understanding that U.S.-style Capitalism is dying. He started opposing the adoption of the U.S.-style structure that abandons those who are weak.

Former Federal Reserve Chairman Alan Greenspan was in charge of the financial system through four administrations. He aggressively pushed Neo-liberalist monetary policies and was one of the culprits that created the recession. He admitted at a Congressional hearing on October 23, 2008, that he didn't monitor the financial institutions closely enough when he was in charge of the Federal Reserve, which resulted in too much financial liberalization. He thought that was a "mistake." He also thought that the current risk management model was moving in a wrong direction and his faith in the policy of loosening control had been "shaken."

International financial predator George Soros's criticism of market fundamentalism is exactly on point. He said that what happened was the result of the market fundamentalist theory of opening markets and letting markets adjust themselves. He believed that the crisis was not caused by external factors or by a natural disaster, but by the [Capitalist] system itself.

C. In the past few years, an important change occurred in Western ideology. Criticism of Neo-liberalism has evolved into criticism of the current Capitalist system. In the 1980s and 1990s, the world praised the Capitalist system and demonized the Socialist system. At the turn of the new century, however, the U.S., the number one Capitalist empire, failed to meet the world's expectations. The financial crisis let people see what "the emperor's new clothes" [or, the illusion of Capitalism] really is.

The crisis itself has ruthlessly laid bare many of the illusions about Capitalism. The "U.S. model" that many elites worshiped has lost its appeal and been discredited. Sharan Burrow, Secretary-General of the International Trade Union Confederation, believes that the Capitalism of the 20th century is out of date and does not fit the 21st century. World Economic Forum Founder and Executive Chairman Klaus Schwab raised the issue of "outdated and crumbling models." He said that Capitalism, in its current form, is no longer suitable for the world around us. [3] IMF Chief Economist Kenneth Rogoff cited many problems with modern Capitalism and pointed out that the current Capitalism is, in essence, transitory in nature. The U.S.-U.K. model that leads the world will be replaced by other models.

The recession also exposed the corruption and fallacy inherent in the Western political system. On the surface, Western "democracy" is "by ballot," but in reality it is "by money." The U.S. economist Robert Reich supported the "Occupy Wall Street" movement and called for building a clean democratic system that would not allow money to corrupt it. He believes that when income and wealth are concentrated in the hands of only a few people, a very few wealthy people will have enough money to control that democracy and will inevitably destroy that democracy.

D. The huge financial catastrophe that the U.S. oligarchs, politicians, and media caused completely laid bare the illusions about U.S. society and its system, model, and direction. Lies will never become the truth no matter how many times people repeat them. Professor Meghnad Desai at the London School of Economics and Political Science pointed out that Capitalism has entered its final stage and the used-to-be-vibrant Capitalism is moving to the East. However, the West's recession is also an uneasy thing for the East. He said that many countries leaned towards adopting Capitalist policies when they were planning their path to future prosperity; but that path is more dangerous than any other. He thinks Capitalism might be the worst economic system for Asian countries. Former German Prime Minister Schmidt is an old friend of the Chinese people and the promoter and practitioner of a "Social Market Economy." When former World Bank President Zoellick and other U.S. people threw out the "top-level design" reform plan with the ultimate goal of crumbling China's state economy and implementing total privatization, Schmidt made a profound statement: "State-owned enterprises are the lifeblood of the Chinese people. They should reject privatization."

E. Western academia has not only directly challenged Neo-liberalism, but students in the top schools have also rebelled against the Neo-liberalist economists. On November 2, 2011, students at Harvard University held a strike, which shocked academia not only in the U.S. but all over the world. Students refused to take a class offered by Harvard "star professor" Gregory Mankiw, a master of Neo-liberalism. Mankiw's book Principles of Economics was translated into over 20 languages and sold over a million copies worldwide. He once served as Chairman of the President's Council of Economic Advisers during George W. Bush's administration. The striking students said they were expressing their dissatisfaction with the deep-rooted prejudices in this introductory economics course. They echoed the "Occupy Wall Street" movement and left the university to join the "Occupy Boston" demonstration. The demonstrators also went into Harvard Yard and displayed a red banner, "We hope the university will serve the 99 percent!" The students on strike believed that a true and reasonable study of economics should include criticism of both the strengths and weaknesses of each economic theory, but Mankiw's class offered almost no other alternative in the study of economics.

F. The world economic crisis led to the decay of Neo-liberalism and to the ideology crisis in the West. Given these circumstances, the West has been paying more attention to Marx's writings and theories after its previous chilly political reception. Now "Marxism fever" in the West can no longer be ignored. One can see a strong contrast between the decay of Neo-liberalism and the popularity of Marxism. Today, Marxism has become a main character in Western political life.

In the West, after the disintegration of the Soviet Union, there was a wave of anti-Marxism. Marxism was denounced, criticized, and treated coldly. At that time, Fukuyama claimed that the change in the Soviet Union and Eastern Europe represented the end of history, which meant that, with Capitalism, human society had reached its best stage and Capitalism was irreplaceable. Fukuyama said, "What we may be witnessing is not just the end of the Cold War or the passing of a particular period of postwar history, but the end of history as such: that is, the end point of mankind's ideological evolution and the universalization of Western liberal democracy as the final form of human government." [4] However, facing the brutal reality of the recent financial crisis, he had to admit that this crisis exposed the instability of the Capitalist system, that U.S.-style Capitalism has fallen off the altar, that this crisis is the end of the U.S.'s ability to take the economic leadership in global affairs, and that the U.S. is no longer the only authority for social policy innovation.

"Marxism fever" swept through the West as the global recession expanded. After the Great Depression in 1930s, countries adopted two different approaches: The Soviet Union focused on industrialization, modernization, and the enhancement of people's material and cultural lives to expand domestic demands and to fully seize the opportunity of the Western recession to bring in advanced equipment, technologies, and talented people. The Western approach was to adopt Keynesian theories on monetary policies, military expansion, and the New Deal to get the economy out of danger. When it came to the 1970s, due to economic stagnation, Keynesianism was replaced by Neo-liberalism. However, it didn't last long. Entering the 21st century, the global financial crisis destroyed Neo-liberalism's reputation. This crisis made people start looking at "the century's great man," Karl Marx.

Another characteristic of "Marxist fever" is that it spread widely to many countries, from Europe to America to Asia and from financial empires to developing countries. It has also affected people from every social strata, from scholars to politicians, from entrepreneurs to managers, from young students to ordinary workers, and from clerks at churches to ordinary people.


The emergence of "Marxist fever" has not been organized but, rather, has been a purely spontaneous development. Had there been no global recession and had Neo-liberalism not decayed, "Marxist fever" would not have spread so quickly in the West. The revival of Marxist thought shows the inevitable trend of the development of world history. However, we must also be clear: the emergence of "Marxist fever" does not mean that Neo-liberalism and its leading scholars will give up their position. The struggle [between Marxism and Neo-liberalism and other Capitalist theories] will be long-term, with many ups and downs.

Endnote:
[1] Qiushi Online, "The Decline of Western Market Fundamentalism," December 25, 2012.
http://www.qstheory.cn/zywz/201212/t20121225_201858.htm.
[2] Occupy Wall Street Online.
http://occupywallst.org/.
[3] Xinhua, "Capitalism in current form no longer fits world: WEF's Schwab," January 18, 2012.
http://news.xinhuanet.com/english/world/2012-01/18/c_122603698.htm.
[4] "The End of History?" by Francis Fukuyama.
http://www.wesjones.com/eoh.htm.
Last Updated ( Monday, 21 January 2013 )