21st century fascism

Thousands of Economic Freedom Fighters supporters matching to Johannesburg Stock Exchange this week
Thousands of Economic Freedom Fighters supporters matching to Johannesburg Stock Exchange this week

Professor Steve Phillips during a recent conference at the University of Minnesota reasoned that globalisation of trade and central banking has propelled private corporations to positions of power and control never before seen in human history.

Under advanced capitalism, Phillips rightly observed, the structural demands for a return on investment require an unending expansion of centralised capital in the hands of fewer and fewer people. The financial center of global capitalism is so highly concentrated that less than a few thousand people dominate and control $100 trillion of wealth.

He laments that a few thousand people controlling global capital amounts to less than 0.0001 percent of the world’s population. They are the transnational capitalist class (TCC), who, as the capitalist elite of the world, dominate nation-states through international trade agreements and transnational state organisations such as the World Bank, the Bank for International Settlements, and the International Monetary Fund. In his analysis Prof Phillips posited that TCC communicates their policy requirements through global networks such as the G-7 and G-20, and various nongovernmental policy organisations such as the World Economic Forum, the Trilateral Commission, and the Bilderberger Group. The TCC represents the interests of hundreds of thousands of millionaires and billionaires who comprise the richest people in the top 1 percent of the world’s wealth hierarchy.

Editor's Comment
Shame on BotswanaPost, like-minded employers

Just recently, the Manual Workers Union successfully interdicted BotswanaPost from implementing new terms and conditions of employment for its members without the union’s knowledge.The union then took the BotswanaPost to court seeking to stop the postal parastatal from implementing terms and conditions of the workers who fall under their membership without being involved on their behalf.In his ruling, Justice Isaac Bahuma of the Gaborone...

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