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The worldwide public realises there is something deeply wrong with today's world economic systemWhen Karl Marx called for the workers of the world to unite, it seems unlikely he had in mind an iPhone boycott. But suggestions for just such a campaign in the US have thrown the spotlight on possible abuses at firms producing goods for hi-tech giant Apple, urging the public to think again about what happens at the other end of the production pipeline that leads to its swish, minimalist stores. Stung by the criticisms, Apple boss Tim Cook told his staff last week: "We care about every worker in our worldwide supply chain," and the company is now inspecting scores of factories, providing the latest evidence that the public is no longer willing to ignore the dark underbelly of world capitalism.
Before the Great Crash, critics of globalisation were isolated on the loony fringe: tear-gassed in Seattle and whacked with truncheons in Prague, as the west's leaders gathered to congratulate themselves on reaping the benefits of unfettered world trade.
When the Asian financial crises of the 1990s toppled governments and forced one desperate country after another into mass impoverishment and emergency bailouts by the International Monetary Fund, the west's leaders - even many on the left - explained it away as a result of shoddy governance or poor economic management, instead of a devastating side-effect of globalisation.
And even after the financial shock waves rippled out from the American housing market in 2007 and caused catastrophic collateral damage in countries across the globe, and the deepest world recession since the 1930s, many felt that a few tweaks to bank capital rules, and sharper teeth for financial regulators, would fix the system.
Yet two things have derailed world leaders' attempts to get back to business as usual. The first is that in many countries, more than four years on from the start of the credit crisis, millions of people still wait for economic recovery to take hold.
Growth is sickly or non-existent; unemployment is rising; the only people who seem to escape are a tiny, super-rich elite.
Comment: This situation is a good reminder of a quote from Andrew Lobaczewski's book Political Ponerology which addresses hysterisation in society that opens the door to totalitarianism in one form or another: For more information on ponerology - the science of evil, see these Sott links:
Political Ponerology: A Science of Evil Applied for Political Purposes
Political Ponerology: A Science on The Nature of Evil adjusted for Political Purposes