Demonetisation: Will it save Moribund Capitalism?

Posted by Krishna Singh
September 1, 2017

Self-Published

Demonetisation was one of the nails in the coffin of the capitalism, which is 500 years old, diseased and on death bed. Now capitalism is unable to survive on simple sweat of the workers, ie, Surplus Value, but needs direct blood of the workers,farmers, children.
Terrorism, war and neo-colonialism are the nature of the new capitalist expropriation (Monopoly capitalism caused 1st and 2nd WW). At home we find plundering tribes of their habitats legally (Land Acquisition Bill) & illegally through police, paramilitary forces & paid goons. Workers are being thrown back to streets, wages reduced, their number in organised sectors being cut and thrown into unorganised sectors, where even government/public concerns use them via contract labour mates at a miserably low wages. The liquidation of labour laws, more than 35, was done for same purpose.
Such plunder is to stop falling profit rate. Profit rate has tendency to fall up to zero, despite technological, management advancements and temporary rise. But such plunders and making life of workers, peasants miserable, capitalist economy faces economic slowdown and recessions periodically. Since 2008, the world economy is in deep chronic economic crisis, despite regional economies showing high GDP, which again is doctored, like in China, India, where the GDP is being shown double than the real one!
Mismanagement or part of outright loot of the people by the bourgeois class and its state & machineries does aggravate the economic conditions of the country (Like demonetisation, GST here) but it can not avoid the recessions. This contradiction, will be eliminated only by doing away capitalist mode of production, where production is social but appropriation is individual. The appropriation must be social to bury the contradictions of capitalist production relations.
Convert private property into social wealth. Do away the wage slavery. Establish a classless society! And how? By class unity of the exploited mass, which is more than 90-95% and political struggle, where the aim must be the state power!
Long live people’s democracy!

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