It’s capitalism, stupid

Politicians and commentators are falling over themselves to convince us how seriously they regard the latest banking scandal. Most political parties and journalists are apologists for capitalism, ignoring the fact that the whole banking system is corrupt and speculation and ‘fixing’ are rife. No inquiry, whether ‘public’ or led by politicians is enough.

Ed Miliband’s assertion that there is a good and bad capitalism – what he calls ‘predatory capitalism’ – is not just wrong, it’s downright dangerous. He thinks that workers can live with an all-consuming capitalism. We know different and so does Cameron. The criminality of the banking system is a glaring example of the corruption and destructiveness of the rest of capitalism through closure, unemployment, the exporting of our industry and non-payment of tax. If we want to live socially productive lives then it is capitalism that must die.

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