'Capitalism unable to give succour to the masses'

Published: 17th March 2013 08:17 AM  |   Last Updated: 17th March 2013 08:17 AM   |  A+A-

The Indian social and economic life after the economic liberalisation is a classic example of capitalism unable to give succour to the basic masses, said P Rajeeve MP.

He was delivering the keynote address at a seminar on ‘Contemporary significance of Marxism’ at the state conference of the Kerala Headload and General Workers Federation, CITU, in Kochi on Saturday.

“The historic general strike during the last week of the February was a strong warning to the government. The working class cutting across political affiliations actively took part in the struggle.

“The major demand of the strike was to address the problems associated with inflation.

“But in the general budget, there was no attempt to address it. This shows  the correctness of Marx’s insight that the government will be nothing but the executive of the bourgeoisie in capitalism,” he reasoned.

Rajeev also pointed that throughout the world, there is a passionate shift towards Marxian works in the context of the economic crisis and the resultant hardships that sprouted.

Even Pope Benedict admitted that Marxism is important to understand the dynamics of global economic relations.

“The major contribution made by Marx is his explanation about the working of capitalism.

“His unparallelled and original insights has survived the onslaught of time. This is because it adapts to the challenges and changes. This is why Keynesian economists like Joseph Stigliz and Paul Krugman are increasingly depending on Marxist economics to explain the global dynamics,” he said.

The seminar was inaugurated by M V Govindhan, CPM state secretariat member.

Despite the calculated and organised attack against socialism, it continues as the credible alternative against the capitalism, Govindhan said.

“History is full of examples which asserts that capitalism is an illogical system. In the era of finance capital, it is becoming more evident. The challenge before socialists is to develop creative forms of struggles that can overthrow capitalism,” he added.

K M Sudhakaran, veteran CITU leader, presided.


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