The new liberal restructuring models, imposed with the claim of overcoming the economic depression that started in the 70s, could not bring a solution to the crisis; moreover, it has fully increased the international income inequality that underlies the crisis.
Today, a source flow from the South to the North has been initiated in the world, leaving behind all the previous colonial periods. (17)
In 1960, 20 percent of the world’s population living in the richest countries had 30 times the wealth of 20 percent living in the poorest countries, whereas in 1995 it was 82 times. (19)
According to the data of the United Nations, the richest 20 percent of the world’s population receives 82 percent of the world’s income, while the poorest 20 percent receives only 1.4 percent. In 1996, the sum of the wealth of the 358 dollar billionaires was equal to the annual incomes of the poorest 45 percent of the earth’s population. (20) According to another calculation, the wealth of the world’s 200 richest people is more than the incomes of two billion people. (21)
The importance of the problem has increased altogether with the fact that the internationalized capital, which has gone beyond all public control, has also found a way to get rid of its tax liability. However, according to the data of the United Nations, if it was possible to tax the 400 billionaires who hold half of the world’s wealth at a rate of 4 percent, the poverty and health problem in the world would be completely solved. (22)
From another point of view, we can say that there has been a deep shift in the axis of capitalism’s fundamental contradiction or exploitation relation. Income injustice at the international level has reached dimensions that far outstrip the income inequality that exists within each nation.
The gap between the poor and the rich of the world has gained importance and determination to overshadow the imbalance between the workplace, enterprise, industry and even between workers and employers at the national level.
At this point, it should also be noted that in the unipolar world, the East-West conflict has also disappeared. As such, the contradiction that remains and is of great importance is the one that is known and has historically been prevalent in all. This contradiction is one that includes the contradiction between imperialism and the oppressed nations. This contradiction is the contradiction between globalized capital and the working majority of the earth.
The change suffered by capital in the New World Order has not been limited to monopolization and reaching gigantic dimensions. Besides this quantitative change, capital has also undergone a profound qualitative change.
The capital, which has reached the size that no public and democratic control can reach, has turned into a monster that has broken its chains, and with the drunkenness of getting the privilege of not giving any priority other than profit, it travels the world by jumping from that stock market to this stock market. Thus, a type of capital emerged that did not produce, did not create jobs, but had the opportunity to make unlimited profit. The common feature of this type of capital, which is the product of activities emerging in different disguises such as interest, repo, stock market games, and foreign exchange trading, is that it is speculative.
This situation, which Keynes pointed out years ago and called it “casino capitalism”, has become an undeniable and determining reality of our day.
The main feature of casino capitalism is that speculative earnings are gaining more and more weight, and this is none other than what appears today. Y