The list of "accidents" is long and painful. In April 2005, a garment factory in Savar collapsed, killing seventy-five workers. In February 2006, ano… - Vijay Prashad
" "The list of "accidents" is long and painful. In April 2005, a garment factory in Savar collapsed, killing seventy-five workers. In February 2006, another factory collapsed in Dhaka, killing eighteen. In June 2010, a building collapsed in Dhaka, killing twenty-five. These are the “factories” of twenty-first century globalization – poorly built shelters for a production process geared toward long working days, third rate machines, and workers whose own lives are submitted to the imperatives of just-in-time production. Writing about the factory regime in England during the nineteenth century, Karl Marx noted, "But in its blind unrestrainable passion, its wear-wolf hunger for surplus labour, capital oversteps not only the moral, but even the merely physical maximum bounds of the working-day. It usurps the time for growth, development and healthy maintenance of the body. It steals the time required for the consumption of fresh air and sunlight…. All that concerns it is simply and solely the maximum of labour-power that can be rendered fluent in a working-day. It attains this end by shortening the extent of the labourer’s life, as a greedy farmer snatches increased produce from the soil by reducing it of its fertility" (Capital, Chapter 10).
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About Vijay Prashad
Vijay Prashad (born 14 August 1967) is an Indian historian, journalist, commentator and Marxist intellectual.
Also Known As
Native Name:
বিজয় প্রসাদ
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The consequences of IMF orthodoxy are often deadly, with the Malawi case as one very painful episode. In 1996, the IMF staff pushed the government of Malawi to privatize its agricultural development and marketing corporation. This body held Malawi’s grain stock, and it regulated the price for the sale of grain in the country. Privatization of the corporation in 1999 left Malawi’s government without a means to protect its population in case of an emergency. Between October 2001 and March 2002, the price of maize shot up by 400 percent. Flooding in 2000-2001 and a year of drought set the food production in the country into distress. People began to die of starvation... The IMF did not relent. Malawi had to continue to service its debt. In 2002, it spent $70 million on its debt service payments, which was 20 percent of its national budget (more than Malawi spent on health, education, and agriculture combined). There was no lifeline through to Malawi, whose food crisis continues till today... No one within the IMF meeting will raise the question of democracy, both in terms of the IMF’s own functioning and in terms of the IMF’s relationship with sovereign countries around the world.
You don't need to be a statistician or an economist to be able to read the basic facts in the world today: the dominant classes and the corporations that they control extract surplus profits from the wealth produced by society, while billions of human beings who work to produce that wealth find themselves treated as if they are surplus humanity. This immense social divide, a widening gap across the class structure, can be observed in almost every single country in the world. This gap is not the result of any natural development, let alone of the magical phrase 'the Market'. This chasm across human society is produced and reproduced solely because of the civilizational system that privileges the private property of the few above the social needs of the many. That system is known as capitalism, a dynamic social process that - through inter-capitalist competition, through advancements in science and technology - has led to the vast increases in productivity but at the same time - because of private property - to immense social inequality. This double movement of capitalism, which generates enormous social wealth and enormous social inequality, both confounds humanity and provides immense potential for solutions to our great dilemmas - solutions that we call socialism.
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