Danlami Baban Takko
5 November 2008
opinion
The late Professor Walter Rodney, in his book, How Europe Underdeveloped Africa, aptly described capitalism in these words: "...capitalism was characterized by the concentration in a few hands of ownership of the means of producing wealth and by unequal distribution of the products of human labour."
The current financial crisis faced by the United States, the leading capitalist nation, is a clear proof of the failure of capitalism as a system capable of solving the political and economic problems of mankind. This stark reality is not altogether surprising because as Walter Rodney rightly observed, "Capitalism has proved incapable of transcending fundamental weaknesses such as underutilization of productive capacity, the persistence of permanent sector of unemployed, and periodic economic crises related to the concept of 'market' which is concerned with people's ability to pay rather than their need for commodities. Capitalism has created its own irrationalities ...the tremendous waste associated with advertising, and the irrationality of incredible poverty in the midst of wealth and wastage even inside the biggest capitalist economies, such as that of the U.S.A. "
The above definitions by Rodney, especially in relation to the so-called global financial crisis being witnessed today, needs no further explanation. The fact is America and other western democracies, are today captives to their own hallow imaginations and are victims of their own political contradictions in trying to subjugate nations for their selfish interests. Perhaps, apart from America and other western capitalist nations, no country in Africa is more capitalist than Nigeria where the glaring features of inequality in the midst of plenty is visible.
It is only in Nigeria that a member of parliament is about to take N10 million a month as pay package, while the average worker's monthly pay is not more than N10,000 only! A former governor in Nigeria is now facing trial for embezzling N30 billion in a country where according to the Action Aid survey, about 53 million of its 150 million people go to bed hungry daily! A former speaker of the House of Representatives was also accused of spending more than N200 million to renovate an official residence. This is capitalism at its best.
The concept of human rights, freedom of the press and democracy are features of capitalism which can be considered as development. Under human rights, a man can 'marry' as many as 86 wives and if he is charged to Court a team of 86 lawyers recruited by 'Human Rights activists' will stand up for him, not minding the extreme hardship, exploitation and degradation of the dignity of the womanhood by a lustful, sex-starved pervert, masquerading under the guise of religion. It is as if the women have no rights at all. This is one feature of development without responsibility.
Another feature of development without responsibility under capitalism is making a mockery of press freedom to engage in the most vicious propaganda, the kind which we are witnessing daily in the VOA, BBC and other media organs of the west.
Dr. Obadiah Mailafia writing under the title, 'Financial crisis and the end of American hegemony', (Daily Trust Tuesday, September 23, 2008), rightly observed that, "In pursuing such misguided policies, they are threatening to also bring down the engine room of international capitalism by a combination of myopia, greed and folly. More than at any time in her illustrations history, America stands isolated and bereft of moral authority - and on the verge of bankruptcy."
America is not alone in this act of folly. Other smaller nations like Nigeria are trailing behind and will soon face their doom not so much because of the much-talked about financial crisis, but because of the evil consequences of capitalism. The control of the means of production by the few in which only those who fit survive under a monopolistic opportunity, has rendered the greater majority of Nigerians homeless, destitute and helpless. Not even teachers were spared the onslaught of capitalism.
Only recently they had to fight the battle of their lives before the government 'agreed' to meet their demands. All over the world and since time immemorial, teachers have always enjoyed a special place because of their noble role in shaping the future of society. Under a capitalist system however, teachers are not considered as 'revenue officials' or 'money-makers' like bankers, insurance brokers, shipping agents on custom officials. It is no wonder therefore to find under a capitalist system a banker earning as much as N100,000 a month while the poor teacher earns less than N40,000 monthly. This is because capitalism is much concerned with maximization of profits and exploitation of human labour.
In other words, those who make it under the obnoxious system of capitalism are those that can find their way using the most dubious means of bribery, 419 and other illegal connections. Within the twinkle of an eye, they become the leading shipping magnates, import and export giants, leading industrialists and successful business moguls and all that. Under this unholy arrangement, the common labourer in the streets who supplies the physical and mental labour necessary for the success of these 'gentlemen' is nothing but a tool to be used and discarded at will.
In Nigeria having a chain of degrees is no guarantee for either a bad or good job. You need to have connection with the capitalists at the top. Ask the fresh graduates from the university and they would explain to you what I mean. Under capitalism, no one is responsible unto another as each is responsible unto himself. The rich are not responsible to the poor. In fact, they detest, curse and despise the poor because of the latter's endless demand for a piece of the cake, which is their legitimate right anyway. The poor too are not responsible to the rich. In fact, they detest, curse and despise the rich because the latter are mean, selfish and greedy. Yet Nigeria is a land of opportunities.
Chief Olu Falae, former Secretary to the Government of the Federation, made the following lamentation in the Sun of October 26: "Nigerians have every reason to be pessimistic. Nigeria has been politically independent for 48 years and we have nothing to show for it particularly against the background of the massive resources that God has given us. If we were located in a desert where rain does not fall for 10 years, yes one could understand. But God has been more kind to us. Nigeria is rich in people, in land, agriculture and mineral resources. We have no business being poor as we are except that we don't have the right leadership to manage what we have. In corporate terms, we call it management but in political terms, we call it leadership."
Unfortunately for Nigeria, neither the full application of the principles of capitalism nor that of socialism can solve the problem.
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