As COVID-19 grips the world, in country after country, there is socialization of healthcare and of production of some essential goods, which markedly departs from the capitalist norm
The overall lesson is to reverse the direction in which neoliberalism has forced us and introduce a universal public healthcare system and a public distribution system. Otherwise several precious lives will be needlessly lost.
Unlike capitalism, socialism avoids any waste or slack, such as is caused by an over-production crisis, by raising the consumption of workers appropriately to avert it
The dangers arise because of capitalists’ willful opposition rather than anything in the economics of the agenda itself
No matter how successful the right may be in the short-run in mobilizing people around a divisive agenda, it is incapable of leading them out of the current economic crisis. It is only the left that can provide a way out.
The intellectual hegemony of mainstream bourgeois economics, by invariably seeing capitalism as a self-contained closed system, serves to obscure the phenomenon of imperialism.
Income support should not lead to the state washing its hands of the poor after handing them a certain sum of money whose real value too would dwindle over time.