Third World needs ideological shift
In many countries, ultra-nationalist right-wing forces are channelling the distress among working class to solidify their position
As nations across the world have been pooling their efforts to contain the Covid-19 spread, the looming economic crisis has caught the attention of global intelligentsia. In the light of health emergency, policymakers of Asia, Africa and Latin America have been struggling to steer the economy back to normalcy.
Although the reason for the economic slump could be attributed to the pandemic, it is also important to cast light on the economics of these tri-continental nations. Been as colonies for more than two centuries, these players had adopted the style of economics, which is a mix of market economics and socialism.
The imperial powers of the then Europe had colonised these nations and had subjugated them with their military and political manoeuvres. Under the banner of White Man’s Burden, the imperial masters subverted the political, economic, social and cultural spheres of the colonies and transformed these self-reliant societies into being dependent on Europe for finished products.
Rise of Ideas
The onslaught on the economic systems of colonies was done through one-way trade. Though the Western powers brought modern values to the Third World during the colonial era, these were twisted to their advantage. The European industrial machines depended on the blood, sweat and tears of the people of the colonies. The reason for the backwardness of these players is the force behind the imperial powers, which eventually pushed them towards these regions in search of raw materials and markets, ie, Capitalism. Needless to say, the competition for resources and discord over the distribution of wealth of colonies led to twin World Wars.
Capitalism, as an idea, cannot survive in an environment of a limited market and resources. It needs borderless access, restless labour and timeless profit. While the European imperial powers expanded their influence over Asia and Africa, the US exerted its influence over Latin America. At the dawn of modern-day Europe, the capitalist liberal order had challenged the old feudal system and the authority of church. Subsequently, the sovereign power was shifted to the monarchical king.
With the rise of ideas like democracy and liberty, complemented by the rapid takeoff of industrialisation, conditions were set for the creation of a new class, ie, the capitalist class. On the one hand, liberalism, a political facet of capitalism, restricts the role of state (political) in economic matters, and on the other, it provides enough room for the elite class and those who have access to power corridors to persuade state to design the policies to their advantage. Inequality is an inescapable feature of liberal economics.
Dominating Watchwords
Now watchwords like interconnectedness, interdependency and free trade are being used to continue their domination on these players. As soon as the Third World nations were freed from the shackles of colonialism, they were forced to integrate their economies into the global economic chain. Characterised by the imbalance, globalisation has been used as a weapon by the Western powers to conquer the markets of developing nations.
The carrot and stick policy of the US is an integral part of its strategy to dominate the global economic domain. The sorry state of affairs in the Middle East and Latin America could be attributed to the US’ lust for resources. In the name of democracy, the US has been meddling in the internal affairs of nations across the developing world. Countries like Iran, Cuba, Venezuela, Libya, Iraq and Syria have challenged the US, a global policeman.
Back in the day, soon after assuming power, the Left leadership in Latin American countries had adopted socialist schemes and nationalised the wealth-creating assets, which were previously in the hands of the US capitalists. Irked by the actions of these nations, the US devised a series of stratagems to destabilise the regimes and install its puppets through the imposition of sanctions and by dubbing them as terrorist nations on the pretext of exporting violent communist revolution.
With the exception of the regimes of Fidel Castro in Cuba and Hugo Chavez in Venezuela, the US was largely successful in its agenda of destabilising anti-American governments in the region. At present, the Trump administration is trying to depose Nicolas Maduro, President of Venezuela and a socialist.
US Effect
In addition, the US has been colonising the minds of the Third World citizens psychologically with its cultural hegemony and anti-left indoctrination. It is important to understand that the reason for the neo-fascism, which is unfurling across the developing and developed world alike, is rooted in capitalism.
The Third World citizenry is disgruntled and the ultra-nationalist right-wing forces in these countries have been channelling the distress amongst the working class to solidify their position. Growing inequalities, falling living standards, joblessness and insecurity are exposing the incompetence of capitalism and have been pushing a large chunk of the workforce in the developing countries into a state of despair. Adding to their woes, the Covid-19 has hit them hard.
The US, with the help of the IMF and the World Bank, had coerced the developing countries to shun welfare economics. The term ‘Development’ is highly contested in the economic domain. Capitalists argue that the true development of an individual and society depends upon economic progress, and free market is a panacea for all problems.
Given the monopolistic tendencies in the economic systems across the developing world, free market is a myth, especially in societies where a few business families, who have cronies in policymaking circles, dominate the economic and social scene. The time has come for the governments of these nations to address these issues and ensure that the wealth is distributed in an equitable manner.
(The author is Director, Samudrala VK IAS Academy)
Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.
Click to follow Telangana Today Facebook page and Twitter .
Related News
