The collapse of the Soviet Union has popularly been equated with the death of socialism. Capitalism is seen as the victor is this battle between the two supposedly mutually antagonistic grand theories of the past two centuries. Francis Fukiyama went so far as to talk about the end of History. In the popular (modernist) view of history we are progressing along a linear path which will one day take us to a perfect society. In the view of Fukiyama and like mind thinkers, we have come to the end of that path. Capitalism’s triumph proves it to be capable of solving the worlds problems and bringing us into utopia. In truth however Capitalism however is built on very shaky foundations.
Before I go any further let me make clear that I am not a communist. Both capitalism and communism assume that the ordinary citizens of the world are unable to manage the abundant resources of the planet without some sort of outside intervention. Both assume that some specialist knowledge, which the ordinary citizen lacks is required to successfully manage these resources. Both create an elite class who eventually assume control of all resources and thus the control of society.
Historically capitalism has its roots in some remarkably dubious enterprises. It was the wholesale destruction and pillage of the civilizations of the Americas that provide Europe with immense amounts of gold and began the cycle of accumulation that allowed to Europe dominate the world through the ensuing centuries. Europeans justified their destruction of the wealthy and thriving Aztec civilization on moral grounds. They feigned disgust at the Aztec practice of human sacrifice- and while I do not defend this barbaric practice- we would do well to remember that at the time it was common practice in Europe to burn alive those who did not adhere to rigid religious and social norms. The gold of the Aztecs and the Incas funded the voyages of exploration which extended European influence to the far reaches of the globe.
The same hypocrisy was applied to the enterprise of claiming North America for the supposedly superior white race. Once the American Indians had been destroyed, they turned to Africa. Slavery decimated Africa and by placing a monetary value on human life created an environment of extreme savagery where Africans were hunted as animals and turned on one another for economic gain. Millions of Africa’s strongest and brightest were ripped from their land and their families. Africa has never recovered from this desecration.
The modern institutions of capitalism, the banks and the insurance companies evolved during this time. The first letters of credit were issued to slavers. The first “goods’ to be insured were African slaves. There are many documented cases where slaves who had become to sickly or troublesome to bring a profit were dumped in the sea, allowing the slavers to claim insurance and thus ensure the profitability of their venture. Europeans today insist on seeing slavery as an historical aberration, which has no bearing on the modern world, and continue to view Africa as backward and savage. They refuse to acknowledge that Africa is a land of proud and ancient heritage and that it was the brutality of slavery and later colonialism that robbed Africa of this heritage, leading it on the path to poverty and conflict. The roots of the vast inequity in the modern world lies in the actions of the slavers and the colonists. The economic and cultural domination of Europe and America through the last five centuries, and the system which perpetuates it is built, quite literally, in the blood, the labour and the bones of the civilizations it has destroyed.
The modern capitalist system continues this tradition of exploitation and plunder. Those who benefit from this system owe a huge unpaid debt to the people of these societies. It is time they started looking for ways to repay this debt rather than entrapping them in further debt.
In conclusion I leave you the words of Walter Benjamin to ponder: " Those who currently rule are however the heirs of all those who have ever been victorious ...... Whoever until this day emerges victorious, marches in the triumphal procession in which today's rulers tread over those who are sprawled underfoot. The spoils are as was ever the case, carried along in the triumphal procession." ( From "On the Concept of History" which can be found at:
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