Capitalism: A Ghost Story

by Arundhati Roy

Rockefeller to Mandela, Vedanta to Anna Hazare…. How long can the cardinals of corporate gospel buy up our protests?

CORBIS (FROM OUTLOOK, MARCH 26, 2012)

Antilla the Hun Mukesh Ambani’s 27-storey home on Altamont Road. Its bright lights, say the neighbours, have stolen the night.

Is it a house or a home? A temple to the new India, or a warehouse for its ghosts? Ever since Antilla arrived on Altamont Road in Mumbai, exuding mystery and quiet menace, things have not been the same. “Here we are,” the friend who took me there said, “Pay your respects to our new Ruler.”

Antilla belongs to India’s richest man, Mukesh Ambani. I had read about this most expensive dwelling ever built, the twenty-seven floors, three helipads, nine lifts, hanging gardens, ballrooms, weather rooms, gymnasiums, six floors of parking, and the six hundred servants. Nothing had prepared me for the vertical lawn—a soaring, 27-storey-high wall of grass attached to a vast metal grid. The grass was dry in patches; bits had fallen off in neat rectangles. Clearly, Trickledown hadn’t worked. Continue reading

Developments in Socialist Countries: Draft Ideological Resolution of the Communist Party of India (Marxist)

6.1   In present-day realities, when the international correlation of class forces has moved in favour of imperialism, the existing socialist countries have embarked on a course of economic reforms to meet the challenges posed by international finance capital-led and driven globalization. With liberalization sucking all countries of the world into its vortex, these reforms are based on the integration of their economies with the international market. The manner in which these countries are meeting those challenges, in this period of transition, is an issue that requires serious examination.

6.2   Is this process of reforms resulting in the negation of socialism as measured by the people’s ownership of the means of production and the social appropriation of surplus as against the individual appropriation of it? In all these countries, negative tendencies have surfaced during the reform process like rapid widening of economic inequalities, corruption, nepotism etc. These have not only been noted by the ruling Communist parties themselves but visible efforts are there to tackle, contain and correct them. The main question that arises is: is this process of reforms leading to the emergence of an exploitative capitalist class that develops the potential to lead and succeed in a counter revolution in the future? Or, whether this process of correlation of these forces under current reforms, in today’s world realities, will lead to the consolidation and further strengthening of socialism? Continue reading