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This is an archive article published on August 17, 2011
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Opinion Capitalism combat

For the CPM,turbulence in the world’s financial markets is another illustration that global capitalism can never be crisis-free.

Manoj CG

Manoj C.G

August 17, 2011 12:36 AM IST First published on: Aug 17, 2011 at 12:36 AM IST

Capitalism combat

For the CPM,turbulence in the world’s financial markets is another illustration that global capitalism can never be crisis-free. An editorial in People’s Democracy says that,irrespective of the intensity of the crisis,capitalism never collapses on its own and that “it needs to be overthrown.” Referring to the turbulence that followed the downgrading of US sovereign long-term credit rating by Standard & Poor’s,the editorial argues that these developments are a continuation of the financial crisis that began in 2007,leading up to a recession.  “This was only to be expected given the manner in which global capitalism sought to overcome the crisis that began in 2007 — by undertaking huge and unprecedented bailout packages for those very corporates who,in the first place,caused the financial meltdown,developed countries incurred huge amounts of debts surpassing their GDPs… Global capitalism sought to overcome the crisis by converting corporate insolvencies into sovereign insolvencies. This,in turn,has intensified the crisis today plunging the world economy into a state of uncertainty,” it argues.

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The burden of massive sovereign debt,the editorial argues,is then transferred on to the shoulders of working people through massive cuts in welfare and social security expenditures. The editorial says India will have to draw the correct lessons and argues that the need of hour is to boost domestic demand as a means for achieving not only substantial growth,but also arresting growing economic inequality.

Medical malpractice

An article in People’s Democracy looks into the government’s attempt to reform the Medical Council of India. It says the government,on the face of it,acted with remarkable speed — disbanding the MCI and reconstituting it within weeks after Ketan Desai’s arrest. “But clearly,” it adds,“the intent was not to change the broken system,but rather to perpetuate it. No attempt was made to cleanse the institution of the MCI by building it from below again. State medical councils were stripped of their powers to intervene… No roadmap was worked out to restore the democratic functioning of the MCI. Nor was the systemic corruption inherent in privatised medical care and medical education touched. We were given to believe that Ketan Desai was an aberration that could be wished away.”

The newly-appointed board,it says,was soon in trouble when it pressed for a common medical entrance examination for the entire country,a suggestion which went against the “whole enterprise of capitation-fee medical colleges.” The government challenged the proposal in court but the court struck down the government’s objections. “The government reacted in a most startling manner by disbanding the MCI,composed of its own handpicked members,and nominated a fresh set of five members. Lest we think this is mere madness,there is a clear method in the madness. All the previously appointed members have been sacked and the MCI has now been packed with people who largely represent the interests of the private sector,” it says.

Lokpal’s scope

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In an article to mark Independence Day,CPI Deputy General Secretary S. Sudhakar Reddy says the Lokpal should not be an extra-constitutional authority. He asks the government to view Anna Hazare’s agitation with this perspective in mind. “We certainly need a strong,powerful Lokpal Bill,but there should be some flexibility on both sides. All powers should not be vested with a single body. Lokpal alone is not going to eradicate corruption. There should be strong will on the part of the government to curb it,” he argues. Reddy,however,reaffirms his party’s stand that the prime minister should be brought under the Lokpal’s ambit even though this may occasionally create some “inconvenience and embarrassment” to the PM. The judiciary should be under the Judicial Accountability Act. Parliament is the supreme body of Indian democracy and it has its own mechanism to check and settle the corruption charges of MPs,says Reddy.

Compiled by Manoj C.G.