GLOBAL KEYNESIANISM

GLOBAL KEYNESIANISM
Since the interest in this subject has dies down, I should like to make
some final remarks.

In spite of the apparent worldwide triumph of liberal democracies and in
spite of the prosperity enjoyed  by the US and a few other first world
countries, there are problems in our present world order, that threaten its
very existence.

Millions of people are feeling left behind because of the growing and
already absurdly high differences in wealth between rich and poor
individuals anywhere and between rich and poor countries. Other millions
are joining the ranks of the unemployed, since blue collar jobs are
disappearing because of automation and new technologies and since these
workers are unfitted for the openings in the new economy of communications
and high tech services. All this causes resentment, that is bound to lead
to massive violence sooner or later.

Global Keynesianism would not end all inequality or bring an ideal society,
but it could probably address these problems quite effectively through
combining the best features of Capitalism and Socialism (the golden mean).

Marxists and fellow travelers are violently opposed to this idea, since
they feel, that it only would prop up Capitalism temporarily and since they
are convinced that only a true and worldwide Socialist society can bring a
permanent solution.

What they do not want to admit, is the fact, that all past attempts to
create such an ideal society have turned out to be dictatorships of a small
minority, that brought few, if any benefits to the great majority of
ordinary citizens. Most of them claim, that all these attempts went astray
and became State capitalism, something altogether different from true
Socialism. They are unable or unwilling to explain, how to prevent such an
outcome in the future or how they plan to control the means of production
and the central economic planning democratically.

Regards Paul Riesz