July 29, 2012 3 Comments
As the economic crisis in Europe continues to make life challenging for ordinary citizens through high unemployment rates and cuts in the public sector, people are starting to wonder whether the capitalist system, which Europe has trusted so well over so many years, is the answer to today’s woes. Over the last five years, the economy of Europe, the United States and other parts of the world has been anything but stable. Just when the population thought the recession of 2008 was coming to an end, the world was hit with another one just a few years later. In the United Kingdom, the unemployment rates for young people are soaring and the recent cuts to the public sector have angered the citizens to the point where the Coalition government no longer have the trust of the British youth. As the new generation searches for answers to today’s economic and social problems, the concept of socialism seems to be making a return.
Even though socialist principles are only starting to make an appearance, it is an extraordinary revival of a theory which was considered dead and buried after the collapse of the Soviet Union. Many scholars and politicians in the 1990s proclaimed capitalism to be the outright winner of the battle of the political and economic theories on how to organise and live on our planet. And while capitalism is still currently standing on its feet, the recent economic and social troubles are hitting it hard and it seems it is only a matter of time before capitalism receives a knockout blow. Whether socialism will step up to prove to the world that it can save our planet is highly debatable and too early to say. But the recent polls in America certainly show that people are willing to give Marx another try. Read more of this post