In 50, 100 or more years, 2012 may not be
remembered for anything in particular except that the chance of learning from
the catastrophe of the turbocapitalism of previous years was sadly missed. Even
the introduction, people will say, of an E.U.-wide financial transaction
tax
failed due
to the egotism of nations that made the excuse of the cunningness of capital to
fly to wherever it can reproduce most quickly
With regret, people will look back on a
time of narrow-mindedness, of greed and recklessness in the individual as well
as on the national level. How long had it taken for humanity and reason to
prevail and for a global government with a global ministry of finance to be
created? Confronted with its regulatory authority, capital had no chance, no
opportunities to fly. There were no more protected centres of finance in London or New
York, no more tax-free island states, no more pirate
havens for vagabonding capital.
Madness was checked, and frenzied greed
was calmed, where before it had caused whole stratums of society to impoverish
while the originators of mass exploitation were free to enrich themselves
without bounds. In those days, as it was dawning on the people what they had
got and how they were contributing to a system that exploited them, the concept
and term fraudulent capitalism came up. This resulted in social stigmatisation
of all risky financial transactions that burdened society with the risk while
filling the pockets of the few. So many people had become aware that they had
systematically been deceived, lied to, and fleeced.
In the end, however, the recognition that
people had subjugated themselves to a system of finance that primarily harmed
them had been a material encouragement for a gradual development of all the
states in the world towards general regulations. Finally the USA, too, on the verge of their own economic
collapse, disappeared in the USW (United States of the World).
And
soon it showed how on the basis of a globally networked sense of
responsibility, the system of finance could be cleansed from individual and
national lust for power and increasingly contributed to the levelling of the
world’s wealth.
(Translation Michael Ehrmann)
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