17 Oct 2008
US Elections: Will Faltering Economy help Transcend the Racial Barrier?
By Sawraj Singh

After the democrats denied the ticket to Hilary Clinton, it appeared almost certain that McCain was going to win the election. Many ordinary whites seemed to have difficulty in accepting a black candidate.

As the economic crisis deepens, more and more of those people look ready to transcend the racial barrier because many people blame President Bush and the republicans for the present state of economy. After all, this situation is the direct result of the Iraq war.

Many people feel that President Bush started the Iraq war because of personal vendetta and to reward his friends in big oil and the armament industry. There was no legitimate reason to start this disastrous war. More and more people now understand that the present economic hard times are directly related to the Iraq war.

Senator McCain supported the war. Therefore, more the people feel frustrated by the bad economy more they are likely to vote for Obama. Unless Bush comes with a miracle to fix the economy before the election, this trend of shifting from McCain to Obama will continue.

The economic crisis, the worst after the great depression of the 1930’s, will need more than a shift from the republicans to the democrats. This will need a fundamental shift in the American attitude towards consumerist capitalism and the so-called free enterprise system.

Since the fall of the Soviet Union, Americans started to believe that the free enterprise system and the American model of free and unadulterated capitalism was the best. They really believed the Regan rhetoric that the government was part of the problem rather than the solution.

Any kind of government control was viewed negatively. They felt that the market has the ability to correct itself. Therefore, it was the best approach to leave the market alone without any intervention by the state and let it take care of itself. President Bush strongly felt that he was faithfully advancing the Reagan doctrine. The conservative right lined up behind him and American policies both at home and abroad took an extreme right turn.

Not only America but also rest of the World has to correct this extreme right tendency. The present crisis clearly shows that the degree of the crises is directly proportional to the so-called free enterprise system.

The free enterprise system means that the big corporations have all the freedom to pursue their profits without being accountable for their social consequences. It is the biggest irony that now the same corporations are seeking the states intervention and help.

China is feeling the least pain of the present crisis because it never took American advice to loosen the state’s control over its economy. Europe is in the middle. Therefore, Europe is also suffering less than America but more than China.

It can easily be concluded that America will have to finally admit that it’s brand of consumerist capitalism and its highest stage, “Globalization” have outlived their usefulness.

Time has come for a change.

Powered by:
The Kashmir Telegraph
© 2002-2017 Kashmir Bachao Andolan | All Rights Reserved