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Leader: The death of ideology

The past week has shown that we are facing a whole new way of thinking about the world economy. 20 years after the death of communism, the time has now come for that of extreme capitalism.




(THIS ARTICLE IS MACHINE TRANSLATED by Google from Norwegian)

On Tuesday, the red-green government, Stoltenberg II, could present its latest budget proposal before the election, the so-called election campaign budget.

And it is a budget proposal that, especially within the traditional national-government focus, should be said to both fulfill promises and provide a positive direction going forward. Poverty reduction measures in Norway receive the largest investment ever, a grant increase of 1,25 billion in 2009. Differences in living conditions will be offset by increasing minimum pensions, extended housing benefit scheme and efforts for unemployed persons, as Finance Minister Kristin Halvorsen pointed out.

In addition, there will be a historical investment in the environment and development. With a grant of NOK 26,2 billion, the goal of one per cent of gross national income should be achieved. Climate and forestry efforts in developing countries of NOK 3 billion are also among what should secure support in the then-rich Norway.

As if by an irony of fate, the budget proposal is presented the same week as large parts of Europe enter its worst economic crisis in decades. The huge government rescues that are now needed to save the financial institutions – be it in Iceland, the UK or Germany, as has emerged in the last week – have given greater weight to Halvorsen's message of a governing state hand over the economy. It is the entire red-green project that has now gained increased legitimacy. While the Progressive Party's seductive liberal capitalist focus is left with stripped credibility.

It is nothing less than the death of an ideology that we are now witnessing, with the state acquisitions or the collateral of major banks and financial institutions worldwide. After the fall of the Berlin Wall on November 9, 1989, and with the subsequent fall of the Soviet Union, we could rightly talk about the death of ideology: at least the death of communism as a real, credible democratic alternative. It probably did not notice any "end of history", especially since precisely the extreme financial capitalism, or capital industry, during the 1990s and 2000s saw a huge upswing.

Solidarity policy

But after even the Bush administration had to bite the bullet and intervene to save the previously glorified free market, the pendulum is turning. The ideology of the free market blessing is dead. It went to the grave with the selfish culture of greed that has now been revealed in the United States. Symbolized by Lehman Brother boss Richard Fuld, who since 2000 withdrew an incredible three billion kroner from the now bankrupt company.

In country after country, there is now a growing recognition that we need less economic selfishness. And increased global and cosmopolitan solidarity. A small newspaper like the Arizona Daily Wildcat, in John McCain's home state, now writes about "The Death of the free market". While Professor Layne Hartsell on the South Korean website Ohmynews concludes:

"The ongoing worldwide movement for localization, green business and social business models, concerned with openness and responsibility, is the beginning of a better system and a new day in the world's financial system. There is even talk of a socially responsible stock market. All these proposals are worth our support. "

Just. Never so bad that it's good for something. Maybe in the long run it is just an advantage that today's global financial crisis is happening right now. Democrats can thus more easily beat Republicans in the US election on November 4. While Fr.p's rhetoric can be more easily revealed in Norway.
In this way, there will also be focus and credibility to the basic ideas behind the Norwegian three-party government.

On Wednesday, it presented its status after three years of cooperation. "We will continue to have control and supervision of the money and financial markets. We want to spend the money on the big tasks, on health, care, school, road and rail, and not on tax cuts, "said Prime Minister Stoltenberg.

In the last four years, the Norwegian economy has been experiencing the strongest economic upswing since the 1950s. Now the economic peak seems to have been reached. But the idea of ​​a more solidarity policy has better opportunities than in a long time to reach new heights.

Dag Herbjørnsrud
Dag Herbjørnsrud
Former editor of MODERN TIMES. Now head of the Center for Global and Comparative History of Ideas.

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