in 1987 and has been
strengthened too. The spread of
neo-liberal policies have been
identified as a solution to the
profitability crisis. The forum could
put serious efforts to popularize
their policies. All this resulted in the
emergence of the process of
globalization. With this Global
capital could establish a tight grip
on the world economy.
It is significant to note that
during the same 1970’s decade the
critical studies on Indian economy
could clearly identified the reality
that the movement of our economy
is not towards “Socialist Pattern of
Socie ty”. As early as during 1970’s
Com. Tarimela Nagi Reddy with
his scholarly studies could
recognize that the structure of
Indian economy have been in
distortion, their movement is in the
opposite direction of self Reliance,
entire industrial sector along with
public sector is under the hold and
control of foreign investment and
could state, finally that India is
Mortgaged. All this, he could
explain clearly in his famous book
‘India Mortgaged’. The distortion
in the structures of our
economy resulted in the impossi-
bility of enough Employment
generation, consequently the
Indian economy which is
characterized by unemployment
seriously faced severe challenges
of poverty, hunger and deficiency
of nutritious food in the same
decade. All these issues are clearly
exposed by the studies of VM
Dandekar and Rath. If the main aim
of the Indian ruling class is to
establish the social society free
from all kinds of exploitation,
oppression and violence it could
have taken measures to correct
the
distortions.
Contrarily
the comprador bourgeois ruling
class has transferred all the
economic policies into neo-liberal
policies. It has successfully
liberalised all the policies related
to licensing, foreign exchange
August - 2018
restrictions and Industrial policies.
Further everybody knows that the
ruling classes welcome the entry of
globalization with red carpet
treatment, on the name of 1990-
91 New Economic Policy, to
handover Indian economy to
Corporate Monopoly Capital.
The solution to profitability
crisis lies in raising profits. What is
the source of profit? Labour and
nature are the true sources of
value. Therefore the exploitation of
labour and environment is the
source of profits. In this context
what will happen to the life of
oppressed with the emergence of
Globalization as a solution to the
crisis of Monopoly Capitalism?
What will happen to the
environment which has highly been
exploited continuously?
The oppressed lose their
livelihood, no earnings, live in
miserable conditions, and stand for
work, with helplessness. This gives
a further chance to the capitalist for
more exploitation. Moreover, the
destruction of environment
resulted in deforestation and
disappearance of collective
property resources which made the
lives of poor more critical. The
profit-thrust of capital naturally
results in the concentration of
created wealth in few capitalist
classes. As a result the reserve
Army of proletariat emerges with
unemployment and underemploy-
ment. They continue to survive in
miserable poverty. This has been
clearly predicted by the Karl Marx
in his ‘Capital’ as early as 150 years
ago. All these facts are clearly
visible to all now.
Marx Strongly indicated that
the emancipation from exploitation
will be possible only when the
oppressed build strongly collective
struggles and movements.
However in order to make it
impossible to the ‘World Economic
Forum’ strongly attacks on the way
of thinking of people as well as on
the structures of culture. It could
articulate the culture of society and
thoughts of people for the interest
of dominant class.
What are the issues that are
discussed by World Economic
Forum?
What
decisions
implemented by it?
Though it is popularized as a
nonprofit forum it could dictate the
Global commerce connected to
profits. Similarly the forum does not
possess any legal or legislative or
executive powers to take decisions
and to implement them on the local
issues to global issues. Despite
this, it works powerfully as a
“Capable of wealthy Elites in
business and government and
arranges meetings to facilitate on
agenda of integration of global
economy intended to benefit large
Trans National Corporations
(TNCs) and industrially advanced
Nations at the expense of
oppressed, working class,
environment and local as well as
non-local culture. Therefore the
Forum is called as “Wolf in Sheep
clothing”. This forum strongly state
that the lives of majority, agri-
culture, environment, the interest
of society and culture are useless
and waste in front of the power of
Global capital. The Forum creates
a favorable environment for
meeting of all top level personalities
to discuss so as to mould stru-
ctures of global economy towards
the interest of dominant class. The
Forum extends strong support and
stands as a backbone to the World
Bank, IMF and WTO which work
officially to strengthen the
domination of powerful corporate
forces, Global commerce leaders
and imperialist Nations. It tries to
build a strong basis towards this
and. Thus WEF is quite paradoxical
and fundamentally a knowledge
Institution and extends intellectual
support for strengthening the
dominance of dominant class.
What issues are discussed by
WEF? What are their solutions?
What are the reports prepared
by this forum?
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