whatsapp
11 Aug

Esse e o resultado de um poder acima que controla o mundo 

The result today is a perverse regime defined by the free movement of capital, which moves relatively effortlessly across international borders, even as free movement of the people is ruthlessly controlled by a sharp increase in income inequality and a steady winnowing of democracy. No matter who comes to power, no matter what promises are made before elections, the same economic policies are followed. Since capital, especially finance, can leave a country en masse at extremely short notice—precipitating an acute financial crisis if its “confidence” in a country is undermined—governments are loath to upset the status quo; they pursue policies favorable to finance capital and indeed demanded by it. The sovereignty of the people, in short, is replaced by the sovereignty of global finance and the domestic corporations integrated with it.

This abridgment of democracy is usually justified by political and economic elites on the grounds that neoliberal economic policies usher in higher GDP growth—considered the summum bonum after which all policy should aim. And indeed, in many countries, especially in Asia, the neoliberal era has ushered in noticeably more rapid growth than under the earlier period of dirigisme. Such growth scarcely benefits the bulk of the people, of course: in fact, neoliberal policies are even more highly associated with the growth of income inequality than with the growth of GDP. (Even International Monetary Fund economists Jonathan D. Ostry, Prakash Loungani, and Davide Furceri concede this point in their 2016 article But neoliberals have sold a powerful response to this objection: a rise in income inequality should be considered an acceptable price to pay for more rapid growth, for it still might mean an absolute improvement in the conditions of the worst off. The fundamental ideological conceit of neoliberalism has been that growth will lift all boats, even if some boats rise much more than others.

There is perhaps no better counterexample to this claim than India, where neoliberal policies were introduced in 1991—spurring both a dramatic rise in inequality and, at the same time, an increase in certain measures of absolute poverty and a decimation of peasant agriculture. In 1982, after more than six decades of strong income taxation, the top 1 percent of earners accounted for just 6 percent of national income,  to Lucas Chancel and Thomas Piketty. By 2014 that figure had ballooned to 22 percent, the highest it had ever been in a century. Meanwhile, as economist Utsa Patnaik has shown in a recent report to the Indian Council of Social Science Research, poverty also went up. In rural India, where the norm for defining poverty has been lack of access to 2200 calories per person per day, the proportion of the poor in total population increased from 58 percent in 1993–94 to 68 percent in 2011–12 (the latest year for which large sample survey data are available). The same pattern held true in urban regions, where the norm has been 2100 calories per person per day: the proportion of the poor increased from 57 percent to 65 percent over the same time period. 


Comments
* The email will not be published on the website.