Monday, 13 December 2010
Two decades have passed since Francis Fukuyama published a book entitled The End of History and the Last Man, proclaiming the definitive triumph of market economics and bourgeois democracy. This idea seemed to be confirmed by almost 20 years of soaring markets and virtually uninterrupted economic growth. Politicians, central bankers and Wall Street managers were convinced that they had finally tamed the economic cycle of booms and slumps.
Now, two decades after the fall of the USSR, not one stone upon another remains of the illusions of the bourgeoisie. The world is experiencing the deepest crisis since the 1930s. Faced with a catastrophic situation on a world scale, the bourgeois of the USA, Europe and Japan are in a state of panic. In the 1930s, Trotsky said that the bourgeoisie was “tobogganing to disaster with its eyes closed.” These words are precisely applicable to the present situation. They could have been written yesterday.
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