See through the capitalist system in Europe and U.S. from financialcrisis In the beginning of the 1990s, with the fall of Berlin Wall anddrastic changes in Eastern Europe, the socialist camp in EasternEurope crumbled into pieces overnight. Free market economy had conquered the central planned system. Somewestern scholars even asserted that it marked the end of history,that is, human society had been at its best and capitalism hadbecome irreplaceable. |
Soon after the beginning of the 21st century, global financialcrisis erupted and major capitalist countries have been bogged downin stagnation successively. Structural imbalance and institutionalweakness of the capitalist system had been exposed. More and morewesterners began to throw doubt upon the perfection ofcapitalism. A soaring anti-capitalist emotion was aroused in theworld. Jurgen Habermas, a German who is considered the most influentialcontemporary philosopher in the world, had criticized the westerncapitalist system early in the 1970s.
He believed that aftercapitalism entered the later stage, free competition as well as theideology of equal exchange of labor and capital had been on thebrink of collapse. However, capitalism failed to found a reliableideological weapon for the new development, thus causingideological crisis and bringing profound challenge to the validityof capitalism. In 2005, there was a round of discussion on capitalism. FranzMuentefering, chairman of Germany's Social Democratic Party (SPD)at that time, criticized the capitalist system for its onlyfocusing on profit, ignoring the moral values that put people firstat a forum on party platform.
Our criticism is against those international capital powers andthose unsustainable practices absorbed in windfall profit. Somefinancial investors neither take human value into account, norrealize that they are destroying human work. Franz Muenteferingsaid. After the European debt crisis broke out, Germany is facing growingcriticism on its economic systems, development patterns andpolitical systems.
German media also published some articles ofself-critical reflection. As an article on Die Zeit said, behindU.S. and European debt crisis was the crisis of the state welfaresystem. High inflation and high unemployment brought about by Europeanfinancial crisis are causing unrest and riots.
The Occupy Wall Street movement has swept Germany. Protesters,marching with posters and slogans, target their anger not only atgreedy bankers, but also at the social inequality under westerncapitalism. They believe that what the politicians had done hadmerely brought Europe countries into deep crisis one by one, andlow-income disadvantaged groups were the final victims. Besides the demonstration in Frankfurt, Thousands Of Peopledemonstrated in front of the Chancellery in Berlin.
More than 50cities have reportedly seen parades ranging from different scalesthroughout Germany. For a long time, capitalism has been regarded as the most superiorsystem since the beginning of human history. However, a financialand economic crisis sweeping the globe has shaken people sconfidence in capitalism, and has aroused deep reflections on thecapitalist politics and systems of the western world.
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