Covid-19 Revealed The Ugliness of Capitalism
Covid-19 Revealed The Ugliness of Capitalism

Covid-19 Revealed The Ugliness of Capitalism

There is a new way of life that capitalism wants to impose on us all, and the first step in distance education has begun. This method is classified as unfair.
There is a new way of life that capitalism wants to impose on us all, and the first step in distance education has begun. This method is classified as unfair.

There is a new way of life that capitalism wants to impose on us all, and the first step in distance education has begun. This method is classified as unfair.

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In the early days of consolidating the pillars of capitalism, theories related to capitalism appeared to convince the people that it was the fittest and longest-lasting economic system, such as what came with terms such as “The Enlightened Interest” and the “Invisible Hand” that Adam Smith referred to in his book “The Wealth of Nations.” Also, Hobson pointed out the author of the theory of “Accumulation”, which explains the emergence of monopoly capitalism and the concentration of wealth in the hands of a few which led to the fence of the distribution of purchasing power.

The world witnessed a change in the shape of the global economy after the shift from the Bretton Woods system to the fiat float system. Then the events that affected the global economy appeared, starting from the eighties with the entry of the Soviet Union to Afghanistan and Iranian influences after the Islamic revolution, through the collapse of the Soviet Union to the conflict in the Persian Gulf and then the decline in the price of gold.

In 2009 the eurozone entered into a financial debt crisis.In 2011, another banking crisis and the political influence associated with the Arab Spring emerged in the Middle East.In 2016 Brexit from the European Union.From the year 2020 to the present day with the emergence of the Corona epidemic and the impact on the global economy.

The Effect of the Epidemic on the Balance of Power

All countries have begun to take emergency measures from closing the land, sea and air borders in addition to curfews and lockdown. Here, economic problems appeared in terms of the lack of domestic resources and self-production, especially in the third world countries that follow the pattern of consumption.

Some countries have adopted the policy of developing the production line, and some have completely dispensed with the human workforce and geared toward machinery. Some countries have entered into crises related to social security and the emergence of problems related to workers’ wages. Also, the termination of work in ways that violate labour laws and oppress workers’ rights.

Covid-19 Revealed The Ugliness of Capitalism
Covid-19 Revealed The Ugliness of Capitalism

As for the economic crisis related to the health sector, it is a major disaster, with regard to the health infrastructure and capacity in government hospitals, and this has called for health cooperation between countries and the transformation of some relations between countries from hostility to friendship. An example of this: The United Arab Emirates sent medical aid to the State of Syria, and this raises the surprise that relations continued badly from 2011 until before Corona.

Some countries have seen disharmonies, such as the United States and China, starting with the US campaign targeting China, it is raging, at times they accuse it of manufacturing the virus and spreading it around the world, and at other times they threaten to impose economic sanctions on it, and drag it before the courts to obtain compensation in the hundreds of billions of dollars. Then tension escalated between the two largest economies in the world after Washington, in the summer of 2020, ordered the closure of the Chinese consulate in Houston, which prompted Beijing to close the US consulate in Chengdu.

Expected Economic Scenarios of the Global Pandemic

Forbes Report: Cost Of Preventing The Next Pandemic Will Be Just 2% Of Covid-19’s Economy

Coronavirus vaccines have become more of a means of propaganda and hostile diplomacy than a means of curbing the epidemic and helping humanity, and the World Trade Organization has also announced expectations that those countries that export vaccines will benefit.

This is why we are faced with two possibilities:

The first possibility: the failure of the majority in the third world countries to take the vaccine, and this scares the countries that produce the vaccine, so that they do not lose after that as a result of poor storage and export. For this fear, difficult conditions may be set in the coming months to move across the border, and more stringent decisions may be issued to prevent travel for those who did not take the vaccine.

The second possibility: the emergence of new strains of the virus that requires broader and longer-term laboratory research to obtain results comparable to the strength of current vaccines.

The Results that Can be Reached

There is a new way of life that capitalism wants to impose on us all, and the first step in distance education has begun. This method is classified as unfair. Not all strata of society can use technology, making education the preserve of the rich and middle class.

As for employment, job stability is also restricted to the government sector. As for the private sector, there is a violation of workers’ rights and a psychological impact of what the epidemic inflicts on them. They cannot adapt to working from home, so decisions are made quickly to start working from the offices.

Covid-19 Revealed The Ugliness of Capitalism
Covid-19 Revealed The Ugliness of Capitalism

As for military competition and agency wars, countries use the development of vaccines as an excuse to expose the weaknesses of their competitors, and to change the strength of the forces to contain weaker states by supporting them with medical donations by placing conditions on them to restrict military development.

As for proxy wars, it is now an outdated card that cannot be used. No legitimacy for unorganized groups. It has become a huge burden on Western countries that must be dispensed with soon.

Researher by Jeelan Aburub