The Evil “S” Word…

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Socialism’s all the rage. “We Are All Socialists Now,” Newsweek declares. As the right wing tells it, we’re already living in the U.S.S.A. But what do self-identified socialists (and their progressive friends) have to say about the global economic crisis? In the March 4, 2009, issue, we published Barbara Ehrenreich and Bill Fletcher Jr.’s “Rising to the Occasion” as the opening essay in a forum on “Reimagining Socialism.” TheNation.com will feature new replies to their essay over the coming weeks, fostering what we hope will be a spirited dialogue.

The crisis confronting capitalism is a vivid demonstration of the vapidity that underlay the appeal of globalization (a k a the Washington Consensus) as a mantra for all seasons, all times, all countries and all continents. Mass unemployment once again threatens the advanced capitalist world, as it has during thirty-four business cycles since 1854. Ehrenreich and Fletcher map today’s conditions, underline the weaknesses of the left on every level and then pose the old question, What is to be done?

Before addressing the question, a few points of disagreement. Despite mocking those on the left who, in the past, saw every downturn as an opportunity to proclaim that the end of capitalism was nigh, the authors fall into the same trap. This time, we are told, the “patient may not get up from the table.” I don’t agree. Capitalism is always faced with crises, which are part of the deadly logic of an economy based on a state-buttressed market system. It has failed many times before but has recovered, including during periods when it confronted real political challenges. Its ability to adapt and survive should not be underestimated, even though it will do so, as before, at the expense of the majority it exploits.

Read the rest of Tariq Ali’s article in The Nation here

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