It was the worst of times, it was the best of times.” Thus begins A Tale of Two Cities. Perhaps we are now living in such times, when the vision of a new social system beyond capitalism can finally be entertained if not realized. The inevitable question arises: what exactly needs to be done?
The philosopher Alfred N. Whitehead’s stated once that theory without praxis is sterile and praxis without theory is blind, but even such an insightful statement remains pitifully inadequate to the challenge of that simple question. Let’s analyze briefly the current situation and then hazard some suggestions on what ordinary citizens can do hic and nunc without waiting for a Charismatic Politician (Nietzsche’s Uberman) to appear walking on water, for to expect miracles in political life is to be eventually sorely disappointed!
Few people doubt nowadays that the entire capitalist system is in crisis. The media and the politicians try to focus our attention on how to repair the system with some tinkering here and there, but a growing number of common citizens are having second thoughts on the idea of fixing a broken system. Some things are better left broken and need to get worse before they get better. They are beginning to entertain the more radical idea that we should instead be using this moment of crisis to fundamentally transform the realities that have historically shaped our lives, especially those of us who live in the democratic West.
This is indeed the silver lining of the whole crisis. The current moment allows us to move from being an object in someone else’s system, with the market as a sort of demiurge to be slavishly worshipped, to becoming the active subject of our own history and destiny. Suddenly we have new choices and we can envision and create realities that just a few years ago would have been ridiculed and caricaturized as naïve and utopian.
The crucial question at this point in time is this: can we get out of this crisis before it is too late and the whole elaborate capitalist scheme comes crashing down causing tremendous suffering to most ordinary people? Is our jubilation at having survived another global regression, which almost became a depression, in any way justified?
Not easy to answer such a question, but one thing remains clear: to embrace the possibilities of the moment means to stand outside the political frame developed by the media and the politicians. This puts progressives, those who are convinced that things always get better and better and there is no sliding back, in a rather difficult position. The present historical moment calls for something far more imaginative and radical than what administration on both sides of the Atlantic have managed to muster so far. And it is not a mere lack of civility and mutual respect, a failure at compromise and tolerance or worse, a matter of “political correctness” or ideological purity.
There is, however another take on this issue: that the ideology of anti-ideology is simply another face of global capitalism. The neoliberal policies that are now crumbling before our eyes were brilliant attempts to extend the basic underlying philosophy of capitalism-that the common good is best served when everyone pursues his or her own economic interests, the famous “laisse faire” economic model whose fruits are dubious at best: what we have seen over several decades is that the rich have gotten richer and tripled and quadrupled their wealth, with the rationale that their wealth would trickle down to the rest of society. What has happened indeed is that while the rich have gotten richer, the poor have gotten the crumbs and have become poorer. The divergence continues to expand. Those are mere market forces, we are told, not to be tampered by ideology.
Indeed, to be non-ideological in a world in which one out of every three people is living on less than $2 a day is to be a champion of inequality, even when one sheds crocodile tears over children starving as we speak, and throws a few miserable billion dollars toward “foreign aid.”
If the truth be told, however, we need to begin to acknowledge that the economic crisis of the West is symptomatic of another deeper malaise: spiritual impoverishment. So spiritual progressives must move beyond the struggles of the moment and provide a different paradigm. People have to be reminded that when the economic system was going full force not long ago, it was also on an immediate collision course with the environment, as Al Gore found out, to his surprise, only after he was out of office and could do nothing on a purely political level. Fortunately, he went into the field of education, environmental education, and we are all better off for it.
People indeed remain to be educated to the hard to swallow empirical evidence that the extremes of selfishness that has led so many of the “big wheels” in the economy to loot their own firms for the sake of personal advantage were not a product of individual pathology (many of those people still consider themselves virtuous and decent) but rather an inevitable working out of the essence of the capitalist ethos and its primary appeal: that if you focus on your own needs and maximize your own interests, without any regard to the well-being of others, you can “make it” and have a very comfortable life. Indeed, when the concept of the common good has all but disappeared, a society will inevitably find itself in a spiritual crisis.
In short, the system that our political leaders are presently trying to revive is already morally bankrupt and environmentally dangerous, but if they know it, they are not telling anybody, yet; often they deny such a reality. But plans to rev up the system so that it can return to those good old days are fundamentally irrational. Which is to say we need a new global economic system; a system under which institutions, corporations, public policies, laws, and even individual behaviors are perceived as “rational,” “productive,” or “efficient” not only to the extent that they produce power or money or new technologies for someone, but also to the extent that they enhance our capacities and our desire to be loving and caring, kind and generous, and ethically and ecologically sensitive.
We are in desperate need of an economy that transcends the narrow utilitarian or instrumental approach of classical liberalism; a novel system which allows us to develop our capacities for awe, wonder, and radical amazement at the grandeur of the universe and the dignity of other human beings. That is something that the ancient Stoics (who were no Christians) seemed to be fully conscious of, but we moderns seem to have all but forgotten, while we pay lip service to spiritual realities.
But to return to the question of what exactly needs to be done, we need a grassroots movement of people meeting together in their communities in “After-Capitalism” groups, discussing their own original ideas on how to create a better global economy. Spiritual progressives should play a central role in stimulating these discussions, not only in every church, synagogue, mosque, and ashram, but also on college campuses, in union halls, in professional organizations, and at town meetings, that is to say the “agora” from which the voice of religion should not be focibly suppressed.
Which is to say, that the activist Left perhaps needs to get out of the way and stop its bad habit of criticizing rather than to propose new options, especially when it comes to the spiritual sphere of human existence. The failure of communist and socialist ideals in the twentieth century has unfortunately led progressives to mere cynical criticism rather than envisioning a new social system. They seem too comfortable in merely criticizing what is or was rather than proposing and leading struggles for what might be. From being idealist they have become realists steeped in “real-politik” Machiavellian thinking. They don’t trust the politicians but they trust even less the idealism originating from a religious paradigm. Deprived of the moral compass of the socialist ideology provided in former times, they now seem at a loss. Some have moved from the Left to the Right. We have the incredible spectacle of a Vladimir Putin financing right wing political movements all over the EU in cynical attempt to divide and conquer.
What in fact needs to be overcome is a cynical pessimism in the West about the possibility of ever creating a society in which people routinely act in altruistic and generous ways toward others. We seem to be constitutionally unable nowadays to imagine ourselves into unselfish cooperative roles. The attempt on the part of conservatives of every stripe to diminish the huge levels of cooperation that made possible the New Deal and that characterized many of the movements of the 1960s and 1970s have been successful in part because of their control over the media, the educational system, and the government. The last twenty years have been especially devastating.
We should frankly acknowledge that the economy itself on both sides of the Atlantic fosters an ethos of selfishness wherein others are treated as instruments for one’s own satisfaction and needs. There is something missing and as hinted above it is the absence of a spiritual dimension to progressive politics without which it is hard to sustain commitment for any kind of long-term struggle. It has not escaped notice that organizations created on the Left by radical activists may champion the ideal of caring for the victims of capitalism but rarely provide active caring for the activists themselves. And without that kind of attention, people quickly burn out and leave their activism behind. They eventually settle for winning the lottery and escape the common misery. It is the blind praxis devoid of theory of which Whitehead spoke about.
Ultimately the real question facing us today is whether the seriousness of the contemporary crisis can lead people to transcend these negative dynamics enough to form a coherent movement that could address the need for a vision for after capitalism. In short, we need to replace selfishness and materialism with charity and magniminity. How would the world look like after capitalism? There is no lack of literature in this respect.
More pragmatically, the New Deal employed artists to paint, poets and writers to write, and took some tentative steps to build a culture of caring. A dramatically expanded program for the unemployed should and in fact could address the cultural and spiritual dimension of human needs aside from mere utilitarian pragmatic considerations. People have to be taught that “we” is more important that “me” and it simply means to take care of each other and that each of us is responsible for his/her own brother or sister’s welfare. Admittedly, this is an “outside the box” vision; one born within the worst of times in which to operate, but also within the best of times. A paradox, perhaps; or an opportunity to be seized. Any takers?
Post Pandemic Recovery: The Rise of the Alpha Dreamers
There are five billion alpha dreamers across the world; why because they are connected globally with all sorts of devices, more so ever than any other time in the history of civilization, and secondly, interacting at 1000 times faster than any invasions of the largest marching armies ever assembled in history. They select and they choose; they browse, click and chat, they like and dislike. All ages and all cultures, opinionated or neutral, but informed they are, evermore than any other civilization ever existed on the planet. Who are they and what are they after?
First, observe, how their silent whispers are still inaudible in the rotundas of power, notice how their hidden power is sweeping the global mind, sharing something never ever dreamt before. As, during the First Word War, symbolized by digging rotten trenches until death or the Second World War symbolized by senseless revengeful carpet-bombings all organized under deep silent agenda. Now in a new differently connected world of today, the common voice of the common person struggling for common good becoming the loudest whisper starts to emerge.
Today, if they all agree to flush the toilets simultaneously around the world it will dry out an ocean the same afternoon. All such mathematics is based on large numbers, few billions here or few billions there, the real power still deeply hidden on 24x7x365 free access culture keeping global dialogue live and global mindshare active. Political punditry ignoring such power seems only waiting for a big slap on the face when dealing with the next coming elections. Study the rise and fall of leadership, scheduled over next 500 days, the outcomes of next 100 national elections across the world. What is happening in your nations, who is vocal and who is silent, but why? The major shifts are on the way.
This is all about five-billion-minds active on global-circuitry learning live-facts in real-time.
Who are they and what are they after? Why the name ‘alpha’ because they are the first largest group ever assembled since Homo erectus? Why the name ‘dreamers’ because the majority are simple common people with simple common dreams of seeking common good and humankind going forward.Alpha dreamers are chasing a better world, not because they have a united cultish agenda but because they treat themselves as ordinary humans and respect humanity. In a world wrapped with fakery, this is a simple goal of a common person, when this multiplied by five billion it automatically becomes an unimagined force. Truth is the shield, diversity and tolerance the only platform left. The world of seek and destroy doctrine will eventually end. The claims to any exceptionalism unless demonstrated in common good is just fakery and tyranny.
Is shutting down the world’s electricity or snatching seven billion phones the next calamity?
Such moves will only prove the panic in rotundas; it is all about courage to face the mirror and deal with the truth, why many billions of people are challenged on issues of humanity, and why such issues come to the forefront. The emergence of a new world is now challenging political agenda, global policies, economic goals, educational values, environments, rights, diversity and tolerance all tested to pursue common good. The five billion connected alpha dreamers will not be fooled all the time. Global public opinion is a simple opinion of social-justice on any street, in any town; village or city, now connected as a multi-billion force.
The elite practitioners of the fine art of image positioning and election punditry always understood that sometimes a one single picture at a wrong or right time decides the election winner. Today when a silent bullet kills a person in the dark of the night, it sometimes shoots billion minds equally when billion images ricochet around the globe. Today, dark alleys and hidden torture chambers becoming live broadcast shows on social media uprooting leaderships, shattering ideologies and exposing false narrative. The tragedy hidden in denying the power of connected global populace and accepting short-fuse of superiority while ignoring common global connectivity. The credibility of the media is gone on the streets of the world, so are the institutions and most leadership. Will this dark silent vacuum filled by the global whisper strong enough to burst eardrums of leadership? Will it make them come together on a new page and listen deeply?
Smart leadership will not survive just by manipulation; hot notions of controlling masses with AI centric facial recognition and profiling will result in more confusion, but with deeper understanding of truthful dialogue with citizenry to downstream real vision of creating grassroots-prosperity will save leadership. Change without pain is not a change rather just a theme based public relation campaign, as if upskilling midsize economies without measuring current levels of lingering competencies is not going forward but in reality sliding backward in slow motion. No single country in the world is either capable or skilled enough to solve all global problems, nor is any single nation exclusive enough to claim any exclusive superiority in humankind. However, each single country is very capable to play a big positive role in the global arena and contribute in big ways with diversity, tolerance and peace. Everyone is important and everyone is needed.
Political leaders with one ear to the ground to listen to public opinion NOW need the other ear also on the planet to listen to the global public opinion and to demonstrate courage to face the music and demonstrate skills to articulate on global issues. Study more on Google.
The rest is easy
Bitcoin Legalization In El Salvador: Heading Towards A Crypto-Friendly Regime
Cryptocurrencies are surely one of the hotly debated topics across the globe. There’s always an ambiguity surrounding the usage and permissibility of crypto assets. Various government entities fear that crypto holds the tremendous power to disrupt the financial and banking sector & it will surely replace the existing financial systems present across the globe. This is 21st century & with the growing technological advancements, the world is rapidly getting acclimatized into the domain of crypto currencies. With this move, some government entities are also changing their perception of cryptocurrencies. The recent legalization of bitcoin in El Salvador can be construed as a prime example of this which apparently came as good news for crypto enthusiasts. The news made El Salvador appearing at the forefront of leading international news channels and websites. By this move it became the first ever country across the globe to legalize any cryptocurrency. The step came after the El Salvador’s President Nayib Bukele announced via twitter that bitcoin will now be accepted as a legal tender across the nation. Earlier in the bitcoin conference 2021 held in Miami, the President gave subtle hints of passing a bitcoin legalization bill. From using bitcoin/paypal hashtags to modifying his twitter profile image depicting red lazer eyes (a trendy way to used in internet by crypto enthusiasts to exhibit their support for crypto), the President’s fascination with bitcoin can be construed prominently. The congress passed the bill on 9th June 2021 by the margin of 62 votes out of 84 favoring for legalization apparently termed by the President as what is called a supermajority. The successful execution and implementation of this bill will make way for the proper legalization of bitcoin. The prominent excerpt from the bill said – “The purpose of this law is to regulate bitcoin as unrestricted legal tender with liberating power, unlimited in any transaction, and to any title that public or private natural or legal persons require carrying out.” To further promote the acceptance of bitcoin the president also made it clear that persons holding bitcoin or persons investing in bitcoin in El Salvador will be offered citizenship of the country.
This pro-active stance by the El Salvador government was very much applauded by the industry experts and crypto enthusiasts around the globe. One of the reasons why the congress took such a drastic step is that El Salvador doesn’t have any currency of its own. Up till now, it has been using the United States Dollar as official currency across the nation. With this move the dependence of nation on US Dollar is likely to be diminished. Nevertheless, the President made it clear that US Dollar would be used for accounting and official purposes. As a matter of fact, the El Salvador government also promised to provide training and necessary guidance to the fellow citizens on the usage and holding of bitcoin. For the purpose of creating a robust bitcoin economy, the government will take assistance from newly launched home country based payment service provider platform Strike. Jack Mullers, the founder and CEO of Strike said – “Adopting a natively digital currency as legal tender provides El Salvador the most secure, efficient and globally integrated open payments network in the world.” The announcement of this legalization increased the value of bitcoin which faced a sharp decrease after the infamous crypto market crash few weeks back.
Apart from authorizing a potential future currency, the legalization will have a plethora of benefits for the country as a whole. For instance, it will boost the overall economy, create new job opportunities for citizens, facilitate faster remittances, help in increasing the low banking penetration rate among others, enable citizens of El Salvador living abroad to send tokens into their home country among others and permit the government to officially own bitcoins among others. It will also make El Salvador future proof from the crypto perspective as there is a strong possibility that crypto market will takeover the traditional banking and financial systems of the world in near future. When formally enacted, the citizens will be able to pay taxes in bitcoins, the price of commodities will be displayed in bitcoin, and almost everything related to price can be calculated from bitcoin terms apart from creating a alternative currency working simultaneously along with US Dollar.
The legalization of bitcoin in El Salvador also holds the potential to make a remarkable shift in crypto perspective by other Latin American countries given the fact that the region may become a hub for crypto powered finance. Observing this move many Latin American nations have raised a voice to show support for this move. Countries like Argentina, Brazil, Panama, Paraguay and Mexico have given signs of making a similar move. The top-notch politicians fo the above mentioned countries have already commenced the discussion for providing legal backing to crypto assets.
But taking such a big leap of faith won’t give fruitful results unless & until there’s a strong backing and support provided to it. To realize this bitcoin powered project, the government officials have made it absolutely clear that the geothermal energy will be used for mining bitcoins considering the fact that the country has large repositories of volcanoes. The state-owned geothermal electric company LaGeo will work in assistance with the government officials. Since the President is aware of the ill effects of bitcoin mining on the environment, only the renewable energy source would be used for this project. As per the estimates the carbon dioxide emissions from worldwide bitcoin mining industry has reached a whopping 60 million tonnes, equal to that of exhaust fumes from 9 million cars. Hence keeping in mind the environmental concern, the President gave assurance via twitter that the nations geothermal energy exclusively will be used. He also took to twitter to show his followers about the zero emission bitcoin mining process being tested by the engineers.
A major obstacle in this project comes from the reluctancy of International Monetary Fund (IMF) with this move which highlights the tensed relations between El Salvador and IMF citing the intricacies in economic and financial conditions currently prevailing in the nation. The IMF is of the view that providing legal backing to bitcoin will make El Salvador a safe haven for tax frauds and money laundering. Since bitcoin doesn’t involve tax on capital gains, it will surely pave a way for wealthy individuals and organizations to save themselves from paying heavy taxes. Also, it may facilitate laundering of billions of dollars by criminal enterprises and drug trafficking organizations. Although IMF earlier gave green signal to this move but lately it has been skeptical about the aftereffects of bitcoin legalization.
All in all, what future holds for crypto market is hard to comprehend. However, the scale at which crypto usage is growing, one can easily anticipate that the 2021-30 decade will observe a boom in the crypto financial market. Considering the disruptive nature, potential and audacity of cryptocurrencies, it will definitely replace the traditional financial systems present across the globe. Even then nothing can be predicted with 100% surety. Being a crypto enthusiast, I hope the world adopts a crypto-friendly policy so as to make sure crypto market is being regulated by regulatory bodies to ensure the authentic, safe and secure environment for crypto investors. Meanwhile, we can speculate, make bets and invest on various crypto assets based on our own perceptions and calculations. Till then let’s enjoy the existing regime of crypto around the world.
Assessing the trends of Globalization in the Covid Era
Coronavirus largely represents acceleration in existing globalization trends, rather than a full paradigm shift.
Globalization has ebbed and flowed over the years, but the event panelists agreed that the 2007-08 global financial crash marked a turning point and kicked off a trend “slowbalization”. Falling income, increasing unemployment and inequality proved fertile ground for the rise of nationalism and anti-immigration rhetoric. One of the most potential shifts towards domestic production, which is well underway before corona virus, can accelerate, as rising barriers to the free movement of goods, people and capital that underpin globalization. Technology is at the heart of this unilateralism. In the past two decades, we have seen a shift in the global economy, from a reliance on tangible to intangible assets such as software, which does not require complex supply chains. The rise of artificial intelligence could also displace cheap labor and drive restoring in advanced economies. COVID-19 lockdowns have only accelerated such digitization. Another rise in populism could be on the horizon as well, the whitepaper noted, as millions of people around the world are plunged into poverty. And the reputation of international organizations such as the World Health Organization has been weakened, which may further reduce global cooperation.
Compounding this is the deterioration in US-China relations and an escalating trade war. The resulting uncertainty is delaying companies’ investment decisions and curbing the global capital flows which are a key pillar of globalization.
It will categorize the globe in losers and winners. The most successful countries in the near future are likely to be those that can generate social consensus on policies; small economies that are protected by nearby large markets like China or Europe; and countries with strong public finances that can prop up their domestic economy, such as Switzerland. Exporting countries that cannot rely on domestic markets will be the big losers, such as India and many African nations. Oil exporting countries may also run into trouble because of growing sustainability concerns. So-called green policies will become a key differentiator for countries, as will taxation to finance the post-pandemic recovery.
Globalization has proved to be game changer for whole world in terms of mobility of people resources and capital; flow of people and resources has also made the flow of diseases especially viral diseases through global interconnectedness. Since the occurrence of Covid-19 on December 2019 in China, the world has totally changed and it has left strong impacts on global security as states have faced many challenges in health, domestic and economic sector. The Corona virus was reported in China initially and later due to free movement of people across borders and lack of availability of knowledge on its symptoms and causes it spread to almost all over the world and hit the states from highly developed states to least developed states and alarmed the Global Health and Security.
According to World Health Organization, the total number of covid cases registered is 162773940 and 3375573 people died due to Corona. The pandemic has also posed a great impact on health care systems and huge burden on world economy and social set-up and contributed to the shift in Globalization trends.
Although globalization has ensured economic and cultural growth in recent past but as mobility of people across borders become easier, the spread of diseases also became easier as the bubonic plague was transmitted from China to Europe through trade routes and influenza pandemic spread during WW1 due to movement of armies and Asian flu of 1957 was spread via land and sea travel. Hence, the phenomenon of globalization has amplified global transmission of diseases and there is link of how the close integration of people and flow of trade and commerce also causes disease transmission. The year 2019 proved to be fatal for whole world as novel coronavirus (SARS-Cov-2) observed in Wuhan city of China spread so rapidly that in March, 2020 WHO declared COVID-19 as pandemic and by October 2020, over 41 million confirmed cases and 1.13 million deaths have reported worldwide. The lockdown measures adopted by states to counter the spread of virus during the global pandemic in has not only impacted our livelihood but also affected economy in terms of supply and demand as market places were closed most of the time and decelerated the economic growth of affected countries which reduced trade and increased poverty. As with all forms of volatility, there are both losers and winners as discussed above, and the case of COVID-19 is no different. While globalization may be negatively impacted in the form of the trade of goods and certain services such as travel, other sectors may experience heightened demand. More remote forms of work will only spur on the cross-border flow of data and of dispersed but easily exchanged professional services. As such, not only the suppliers of these services but also the enablers such as Zoom and broadband providers will be the beneficiaries.
Moreover, the low and middle income countries like Pakistan have faced a collapse in health care systems. The lockdowns and restricted movement has put pressure on transportation systems resulting in loss of income, disruption of global trading and halt of tourism sector, decrease in production, consumption, employment and supply chain. Globally centralized supply chains in low labor-cost countries are also being challenged by the increased use of robotics and automation, allowing firms to keep production in relatively expensive countries. COVID-19 has highlighted the importance of automation, as the threat to operations posed by “non-essential” business closures is based on the need to keep people at home. As such, operations that leverage robotics will be less affected. Ironically, among those countries that have weathered this pandemic the best are many with high levels of robotics usage such as South Korea.
Moreover, unemployment has become major issue with 14% decline in jobs related to industry. Moreover, globally over 140 million people are estimated to face extreme poverty along with food insecurity. Along with economic system, countries with active corona cases are vulnerable like Ireland, UK, and Italy despite having good health care facilities. In African continent, the countries that are more vulnerable are South Africa and Egypt, In Europe, Germany, Russia and Italy are more vulnerable and in Asia and Oceania, Pakistan, India and Saudi Arabia and Turkey and in America Brazil, Chile, USA, Mexico and Peru. The Covid came in three different waves and posed more challenge for states like India where the whole health system collapsed and people were helpless.
In Addition to Health care system and economy, the education sector has been affected too mostly in developing and under-developing states. For example, initially when the schools, colleges and universities were closed the students as well as teachers couldn’t adapt immediately to online mode and that made it difficult to acquire quality education. Moreover, the states like Pakistan where internet availability is limited and there are many household that lack access to internet especially rural areas, education could not be provided through online mode. Although the studies at University level continued through online mode, but primary and secondary education sector were severely affected. And this is clear , that the learning acquired by attending institutions and learning at home through online mode are very different and the later requires self-regulation that is very less in today’s youth who have various other distractions in terms of electronic gadgets, social media and mobile phones.
COVID became a global issue in past two years and all the states and international organizations were active to cooperate and spread awareness and adopted measures that could halt its spread. It affected all states and posed challenges on economy, health, education and has exposed the urgent need to revisit disaster preparedness and health care systems as health care capacity of powerful nations have been tested during pandemic. The developed states like US have faced difficulties in controlling the spread of epidemic and less developed have been further unable to respond to and control the situation. The Covid has not only posed challenges to economic and health system but the trends of globalization have also shifted. The states adopted counter strategies where institutions were closed, lockdowns were implemented, travel banned and people have to restrict movement.
In short, Covid has been and still is a challenge that states are facing and all states and international organizations have cooperated to fight this evil through research on its causes and effects. The Global community has been successful to produce vaccine that will control the spread of Corona in future and generate immunity for Virus among people. The fight against corona is still there and future hold secrets of this Global Virus that has changed the whole global structure and posed challenge to developed and under developed sates equally as no one was prepared for this deadly outbreak.
We are shifting to a new model of globalization that is more localized, focused on services, less capital and energy intensive. Globalization will survive in the COVID-era, but it will look vastly different.
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