A CRISIS OF CAPITALISM

Summary

In the text "A
crisis of capitalism" the journalist Riccardo Bellofiore shows the
problems that afflict the Europe, in particular the Italy. He describes a
reality with its two aspects: some people perceive it as a tragedy, others look
on it as a farce. In spite of this, Bellofiore reputes politicians as
comedians, the most effective opposition to government and the Prime Minister
as a joke. In this way nobody can know how really the italian situation is,
because it is hid by the ridiculous personal facts of the PM.

So, according to
the journalist the crisis wasn't born in Italy, but it is caused by the German
neomercantilism that introduced stagnation in Europe, which survived by
US-driven exports. Moreover  the crisis
born because the "markets" became aware of the foolishment of
European leaders who weren't able to rescue indebted countries and who
introduced selfdefeating austerity programmes. Italy's economy started to have
serious failings date from the mid-1960s and they resulted in continuous
decrease either in productivity or in the growth rate. As a consequence
politicians answered with an intensification of the labour rather than
innovations: industrial sectors disappeared, technology was imported and public
enterprises were privatised. Successively in 1992 Italy left the European
monetary system and its broblems started to become worse further on.

Thus, the crisis is
not only a financial crisis, but capitalist crisis. In fact, in the end of the
text Riccardo Bellofiore underlines that the European left should push for a
socialisation of investiment,  banks as a
public utilities and the intervention of the state in the management of the
labour.