Pages

Tuesday, May 20, 2014

Unturned Turning

I

13th August 2000
Khusrow gazed at the face of his fiancĂ©e Shirin and found her beauty esoteric yet quiet. He was going to Kabul to train as a technician hoping it would fetch him some job in the Gulf. Life in Northern Afghanistan had become tough as theTaliban had started penetrating into the territory. He had already lost his family in the skirmishes with Taliban and did not want to be a part of the bloodshed anymore. He was caught in a dilemma –whether to build a career or to stay at home with his love. She was his dreamgirl, his pari. Shirin found his choice of moving to Kabul for one year very painful but  she couldnot bring herself to stop Khusrow .One year was a lot of time, especially when the Taliban was making gains in their territory. She helped Khusrow pack his bags, trying to be the supportive lover he would want her to be. Khusrow kept the photograph of his Hero Ahmad Shah Massoud in his luggage bag. He took the bags and  somberly told Shirin “ It’s time to leave”.
 “Give me a call  when you reach Kabul” She mumbled, trying to hold back her tears. She would not be his weakness at that departing moment.
Khusrow went to the bus stand and felt a strong sense of solitude and emptiness. He wanted to but could not return back home. The vocation he was about to pursue was the only means to escape the horrors of the civil war and to secure a future for himself and Shirin. He joined the queue before the ticket counter. He paid the ticket amount, which is 500 Afghani, thanked the attendant at the counter and braced himself for the life ahead.
He found the bus station unusually crowded and wondered if the whole area was leaving for distant lands. This feeling gave him a panic and hastily he started to search for familiar faces. He searchedfor someone intimate, someone who could relieve him of  his enervation and desolation. He found none. He is upset and glum but then he saw Madani sitting on a bench beside the bus. He approached him.
“Assalamu’alaykum” he greeted Madani.
“Walaykum-us-salam” Madani replied with a grin on his face.
“Where are you going?” Madani asked and draggeda puff of cigarette. He threw the rest of it.
“Kabul” Khusrow answered. He kept his luggage on the bench and ordered tea.
“Any special reason?” Madani anxiously asked.
The tea stall owner handed over a cup of tea to Khusrow. 
 “I am going to pursue a course as a technician”
“Why don’t you go to Herat?”
“They don’t send people to Gulf” Khusrow replied while sipping his tea.
“Oh! You want to work in Gulf” said Madani. His voice had a rather disparaging tone.
“Well it’s a great coincidence! I am also going to Kabul. Now I have someone to talk en route.” Madani speaks with smile.
The bus driver started honking the horn and both Khusrow and Madani boarded the bus. They sat in adjacent seats and talked for sometime about the lackadaisical state of transport in their area. Madani dozed off after  ten minutes and Khusrow was struck back by the sense of solitude. Reminisces of him and Shirin , their moments of joy and playfulness overwhelmed him and he felt a soothing silence even though the crowded bus was making enormous noise.
The bus reached Kabul in the morning. After collecting his luggage Khusrow went over to Madani to bid farewell.
“Where will you stay” Madani asked him.
“I will find  some cheap lodge”
“Why don’t you live at my place?” Madani offers as he lights a cigarette.
“Do you have extra space for me? I don’t want to be a burden Madani.” Khusrow asked rather hesitantly.
“I have enough space to accommodate people from Northern Afghanistan!” Madani said, his tone getting pompous. Madani liked played the gold-hearted big brother.
“OK then” Khusrow nodded in affirmation.

II
 



Khusrow and Madani hailed a taxi and reached Madani’s place. Actually it was no personal residence but a campus of a mosque. Khusrow sees many young people in the campus. Madani takes him to a room asks him to freshen up and rush to the institute where he was to take admission. Madani instructs him to come back at 1:00  to participate in the Friday prayer , affectionately called the Namaz-i-Jumma. Khusrow completed the admission procedure and returned to the mosque at 12:50 to the mosque. Madani  escorted himto the Mosque. He told Khusrow that all the residents of the campus and even notable Kabul residents came to pray at the mosque.
 After the Prayers, the Chief Imam of the mosque started to address the gathered prayees from an elevated platform. He was dressed in lush silk robes and adorned a Turkish headgear.
 “In Palestine, every day hundreds of our brothers and sisters are killed by the forces of Kuffaars. These Zionists, these filthy Jews do not allow our children to grow up. They butcher babies, rape our pious sisters and humiliate the elderly. America is supporting the enemies of Muslims all over the globe be it Palestine,India,Lebanon, Bosnia,Chechanya. We are killed because we follow the true path of Allah. There is a conspiracy of non-Muslims to decimate Islam from the earth. But they do not know the power of Islam. We will keep resisting against this agenda of the infidels and shall we have to sacrifice our life to destroy America, we will  do that with pride on our faces.”
It appeared as if the Imam had administered a tonic of enthusiasm among the crowd. Chants of ‘God is Great, Allah-hu-Akbar’ went up. The Imam’s face tightened as he thundered his last message“ Every Muslim will take down with him hundred Infidels!!”
This was nothing new to Khusrow. He had heard the same words back home .However the context was different and so were those who raised the slogan. The Northern alliance was fighting against the triple evils of Taliban, Al-Queda, and Pakistan. Northern Alliance was waging war for democracy, rights, economic and social prosperity. It opposed the harsh dictatorship of Taliban  and also the Saudi Wahaabi brand of Islam. Khusrow felt uncomfortable. He knew such instigations by the clergy would lead to more bloodshed. They cried Allah-hu-Akbar to oppose the Unislamic ‘Islam’ the Taliban was championing.
He came back to his room and was imagining the wonderful life he would have in Gulf when there was a knock on his door .
“The Imam wants to meet you”.A boy dressed in wearing Taqiyah and kurtah told him. He was no more than 15.
“Why ?”
“I am just a messenger. I do what the Imam asks me to do” the boy replied and walked away.
Khusrow went to meet  the Imam. He saw around 20 young boys standing around the Imam.The Imam is six foot tall, fair skinned, long beard, very much in shape. He notices the Turkish headgear on his head. Many copies of the Quran are kept on the table. The Iman looked calm. He asked one of the young boys to fetch water for everyone. With a serene smile on his face and a rather nonchalant manner, he spoke “Don’t you all feel sad about the condition of fellow Muslims in Lebanon, Chechanya, India and Palestine”
He paused and took a sip of water. Then he continued with the same composure.
“Every day they are killed by infidels like insects in many parts of world.They are not bad people. They follow Islam. They don’t indulge in the haram.”The Imam’s rhetoric gained a few nods from the young boys present.
“America is facilitating their death. America is funding to kill all the Muslims of the world” Imam stood up and placed his hands on his waist.
“You all are from Northern Afghanistan. We are not fighting with Northern Alliance with the lust for money or gold or women. We already have the greatest wealth – the knowledge of Allah! Our aim is to consolidate the Ummah. The Quran commands every faithful to foster the Ummah and lead them on the path prescribed the Allah and his Prophet.”
The Imam lent out a breath sipped some more water and continued.
“Massoud lusts for power. He wants to live like a king. He wants you all to be dumb as sheep. He opposes the Northern Afghanistan to join the Ummah so that he can enjoy his personal fief.”
The Imam’s expression changed. His tone grew stern.
“Allah has sent you to me with a divine purpose. You have to raise Jihad against the infidels.”
He looked towards Khusrow. Khusrow was dumbfounded and could find nothing to speak. Imam places his hands on his shoulders and speaks to the rest of the assembled youth “Think about it. Your true purpose of life is being communicated to you.”
One middle bald aged man entered the room and ordered the assembled to follow  him. They were taken into a dark, claustrophobic room. The bald man started a projector and white flashes of videos  appeared on the wall.  There was  crowd of people dressed in what Khusrow felt was a darker shade of Orange. They were carrying swords and tridents and  ransacking home. Following the video pictures were shown of deadbodies and weeping women .  A caption stating ‘Muslims killed in India by Idolators’ appeared next. After a moment of pause, another video was played.Israeli forces were killing Palestinians. Expression of anger appeared on the faces of many young men. One was   punching his right fist into the left palm. Another one loudly proclaimed “ I shall behead every sister-sleeping Infidel !”
A silhouette appeared on the screen.  The assembled men turned to see who had come in front of the projector. Lights were turned on. It was the Imam. With a stout face he said
 “Islam needs you. Get ready to do something for Islam. Break the boundaries of nation, ethnicity, race and community. Fight for Islam. Islam is in danger!!” Imam’s voice got shriller as he spoke the last sentence.
The bald man instructed them to return to their respective rooms and get busy with their daily work.
Khusrow talked to nobody but he could feel the charged atmosphere. He went to the dining hall, had the food and returned to his room to sleep.
       III
 



Next day, Khusrow started his classes at the polytechnic institute. The Soviets had built it to support and develop the Afghan people. That was at the time when the communist had ruled over Afghanistan. Most of Soviet infrastructure had been looted or plundered but the building survived. During the lunchtime he overheard the same discussion- The Plight of Muslims. Even while meeting with his instructor in the staff room he overheard the same phrases; Bosnia, India, Chechanya, Lebanon. He came back at 6 in the evening. While strolling across the mosque campus he saw group of people watching videos of Israeli assault on Gaza. It appeared to him that discussion on ‘The persecution of Muslims’ was the opium of the Kabuli people.
He thought of telling this to Shirin but then thought that it would perturb her. They talked normal things and while ending the call she said she missed him.
---------- xxx –
The mosque campus where Khusrow lived followed a typical routine. Evenings were dedicated to teaching the religious scriptures. After dinner the residents assembled in the courtyard to watch video lectures of  preachers and leaders. Themes were religious but mostly echoed the resentment of non-Muslim societies.
First Khusrow kept away from the discussion and debates but the solitude became unbearable. He needed company. He needed people to talk to.  He initiated conversations with co-residents and made a few friends. However the chief topic of discussion was always Muslims v/s Non Muslims, West v/s Islamic world and so on. All this started to influence Khusrow. They say it’s hard to come out a coal mine without stains on your clothes. Three months into the mosque campus, he too became actively engaged in talks of religion. The videos and preachings had shadowed him. Like other residents of the mosque campus, he  started to vilify the non-Muslim nations. He grew very passionate while speaking of Palestinians or Chechans. His ambition of building a life in Gulf gave precedence to the desire to become a pious follower of the faith. Calls to Shirin grew shorter and fewer.
-------------
Six months into Kabul, Khusrow had become a part of the Imam’s core team. He had  a mediocre  performance in his course but he had gained the Imam’s admiration. He hadn’t called Shirin in a month. From the love of his life, she had become a scant memory from a distant past.
That day after the Imam’s evening  lecture on the rightful conduct of women in Islam ,the Imam asked him to accompany him for dinner. Inside the Imam’s chambers, he saw two strangers sitting and four of the campus’s residents standing beside them. 
“What can you do for your religion?” The Imam asked Khusrow
“Anything” with a strong confidence, Khusrow told.
“Anything means you can even kill yourself to save Islam” Imam asked with curiosity 
“Yes, I can.” Khusrow replies firmly.
“Praise be to the Lord! Your time has came to serve Islam and attain paradise”
“Order me”
“You have to go to Takhar province and kill Rahmani of Northern alliance. That man has lost all his shame and is hand-in-glove with the Americans. He eats pork and drinks wine. His women are shameless as a harlot.”
“ I shall wipe that evil soul from the planet.” Khusrow promised.
That very night Khusrow was sent to Al-Qaeda camp. He was trained as a suicide bomber. He was taught certain religious texts which sanctioned suicide bombing. Khusrow felt he  no longer feared death for he was being awaited in paradise. The trainers at the camp brainwashed him to prevent the possibility of chicken-heartedness at the last moment. Khusrow met others from across the globe training as mujahidin with the Al-Qaeda.
Then on 4th September 2001 he was given the date of his mission. Two days later he was to execute Rahmani. He left for Northern Afghanistan that very night.
                                  IV






Khusrow reached his home early in the morning. He had come back a year later, beard flowing till his pectorals. Not much had changed there except a few painted houses had come up. ‘Lavish ostentations of the impure Muslims’ he thought. Two men from the Al-Qaeda camp were also with him.
Shirin came to meet him. The two men left the house on pretext of going to the market. He saw Shirin but couldn’t muster the courage to look her in the eye. She had loved him intensely. She was his  pari  and he had forsaken her. He tries to remember the teachings he was taught to repeat in his mind whenever he felt weak and courage-less. He kept reminding himself not to be weak at that moment. But Shirin’s face – it was a passport to an innocent past. Guilt heavied upon Khusrow.
Shirin found Khusrow distracted.  She came near Khusrow and kept her hands on his shoulder.
“You are missing your family members who were killed on this day  in 1998? ” Shirin’s voice was  imbued with fondness.“Taliban has not only spoiled your future but the past, present and future of this country. They have to pay for your loss and the losses incurred by all the people in their unholy war” the firmness in Shirin’s voice had gone stronger,“They endanger  the existence of the people of this country”
Khusrow’s guilt grows stronger for he had forgotten the date of the demise of his family.
“Their war is not unholy. They are fighting for Islam” Khusrow mumbled rather slowly,“They are waging war against those who want to destroy Islam. They are fighting against those who are killing Muslims . Israelis, Americans .” 
“Khusrow! What has happened to you. You are taking sides of those who orphaned you and many other like you. You think only Taliban following Afghanis are Muslims.” Shirin got angry yet concerned for the changed Khusrow.
Khusrow mustered the courage and relied with a stiff face “ You have shed all the etiquettes of a pious woman. Don’t we defend ourselves against those who attack us and our faith? Someone has to fight for the orphaned kids of Palestine and Chehcanya”

“ So you find it reasonable to orphan others to avenge for orphans. Tell me where in the Quran is murder justified?. Jihad is to kill the sinner behaviour and attitudes of our inner self. Jihad is against the untruthfulness of our self, against the infidelity of our soul Shirin sternly questions Khusrow.
“Will religion of our infallible Prophet tell anyone to kill ? Religion is all about the existence of the life on this earth.” Shirin sat on achair and took a deep breath.
Suddenly,  the two men from the camp entered the room and askedKhusrow to come out. They told Khusrow that the bombs were ready. Khusrow told them to get some sleep. Khusrow came inside the house. Shirin had already left.
Khusrow went to bed thinking about Taliban and Islam. The homecoming had somewhat brought back the old Khusrow, the one who cheered Ahmed Shah Massoud and his humanitarian ideas. It dawned upon Khusrow that Taliban was aspiring for a  draconian monopoly of Islam in Afghanistan. But what about protecting Islam? Khusrow dwells in this mental agaony until he falls asleep.
In the morning, all three men went for prayers to a nearby mosque. They came back to Khusrow’s house and  wore  explosives inside their clothes. The two men had arranged for an old car. They left for the place where  Rahmani had organised a popular gathering of the common people to address their problems. As they travelled Khsurow saw the fields he used to play as a kid. He crossed the graveyard where his family was buried. He also went past th town hall where he had met the Charimsatic Lion of Panjshir Ahmed Shah Massoud. He remembered the sacrifices of his family members. As he crosses the hospice, he sees several people orphaned, killed, maimed by the attacks of Taliban. Yes Khusrow knew it was the Taliban, trying to win over the last bastions of independent Afghanistan.
Khusrow was torn between choosing to save the religion and or save the people. Rahmani’s death would weaken the Northern Alliance and Taliban could easily run over the area in a day or two. Then Massoud’s neck would be within Taliban’s reach.
He asks the two men if they thought they were murdering fellow humans? They replied unequivocally that they were  doing the duty of a faithful Muslim and  killing the allies of infidels . They also reprimanded  him for losing determination at the last moment.
It was ironically, that moment when Khusrow mustered immense determination. He stopped the car.
One of his co-passengers “why did you stop. Are you planning to run away? Coward!.”
“ I wish to pray for the last time. I wish to say my last prayers before I meet my Lord in paradise” Khusrow replied calmly.
The two men relaxed and with jubiliation started to lay down Prayer mats at the side of the road. They prayed with extreme devotion. As soon as the three embraced in a parting farewell, Khusrow pressed the detonator.


Written By:- Satyanand VatsaShrey Vats





Saturday, May 10, 2014

Critiquing Neoliberalism


The history of human civilisation is the history of human quest for ‘freedom’. The freedom from economic, legal, political and social bondages will create a more judicious society.  The free market system, accumulation of private property, rule of law and economic freedom are the preconditions for economic efficiency in the market. The market need not be intervened by state machinery to run.  State interventions to the market should be kept at minimum because state does not possess enough information about the market. With these thoughts, a ’new right’ movement started in western democracies. Despite having geographical variations in the implementation of this policy, no part of the world is immune to this development. The ‘world order’ created and modified institutions to implement these policies globally to achieve higher economic growth, better human developments, increased capital accumulation, utopian job markets etc. This economic system famously named as ‘neoliberal policies’ attempted to change the socio-politico-economic dimensions of world society for betterment of the ‘peoples’ of this globe. The American economist Milton Friedman and the Austrian academic Friedrich Hayek contributed much to the development of this thinking. Other people like Peter Saunders, Robert Nozick, Margret Thatcher, and Ronald Reagan also contributed enough to have a world order based on neoliberal principles.

 The cease of World War II accentuated the growth of the ideology of neoliberal policies in the countries affiliated with western blocks. This was serving two purposes; first important purpose of it was to counter the Stalinist model and the influence of USSR and the second purpose was the perpetuation of capital accumulation by capitalistic classes by keeping masses in a shadow of utopianism of development. The state-market dichotomy was created to mystify polarisation based on classes. This essay will see the results of neoliberal policies and try to find some of the answers like how the neoliberal policies were exported to the different countries of the world? Who are the beneficiaries of this development? Has the quest for freedom achieved? Why individualism is so important for the development or the economic efficiency? Can state be provider of freedom for the masses or can the ideology of state exist with the ideology of ‘true freedom’ for masses?  Has the concept of ‘globalisation’ helped societies to improve their human development indicators? etc.

In 1973, Chilean government of Salvador Allende was overthrown by dictatorship of General Pinochet supported by right wing parties, Central Intelligence Agency of USA, and repressive government of Brazil. The coup was part of the policy of America to prevent spread of communism in Latin America (Lowe, 1997). The new regime changed the ‘moderate’ socialistic principles of Allende and allowed Chicago school economists to do experiments of neo-liberal policies. The new policies of government, however by 1980, brought inflation rate down from 1000% to manageable proportions but this development was very skewed (Lowe, 1997). The country and its ruling elites along with foreign investors received huge benefits while the people in general fared poorly. The effects of this were seen in 1989 general election, when the civilian candidate supported by Pinochet was heavily defeated. The Chile experiment proved that neoliberal values are the values of elites because the structural component of neoliberalism has elements to restore the class domination to the richest strata in the population (Harvey, 2007).

This was not something new because in the theoretical developments of neoliberalism one can trace the formation of rules in the favour of capitalist classes. Peter Saunders, while developing his own theory of Social Stratification, distinguishes three types of equality (Saunders, 1990): first is ‘formal or Legal equality’ involves all members of society being subjected to same rule or law. Although he admits that it does not mean that ‘everybody ends up in the same position’. Second is equality of opportunity meaning people have an equal chance to become unequal.  He calls society based on this equality ‘meritocratic’. Third type of equality is equality of outcomes. Saunders accepts first two kind of equality but rejects the third. He takes ideas from Hayek and says that this kind of equality undermines the equality of opportunity and legal equality. He does not differentiate between the idea of ‘positive discrimination’ and ‘discrimination’ and advocates for removal of positive discrimination from the society. Saunders and Hayek believe that inequality is justified because it promotes economic growth. Further, he finds socialist regime more repressive than capitalistic regimes but these views are different from the realities of time and space. The advent of capitalism after Industrial Revolution was dependent upon slave trades. In south Africa, apartheid system and capitalist free market system separated ‘races’ and gave black Africans very few opportunities and Pinochet regime in Chile was more repressive than that of his predecessor despite having free market system.   

The ideal dream of Saunders having society where social mobility will be based on the merit in free market system was refuted by the study of Gordon Marshall, Howard Newby, David Rose, and Carolyn Vogler (1998). Their study found that patterns of social mobility were influenced by class even when education attainment was taken into account.  In a general explanation, one can find that a student from rural village might have more merit but his lack of ‘social capital’ and ‘symbolic capital’ in comparison to a student of upper urban class will hinder his social mobility. The study clearly indicated that free market does not guarantee that merit is equally rewarded for all social groups. So the concept of social justice is necessary to promote meritocratic society.

In the United States of America, the top 1 percent’s share in national income was 16 percent in pre-World War II period and after WW II it declined to 8 percent and this percentage continued for next three decades. In 1970s the economic growth of US collapsed and real interest rates went negative and dividends and profits shrunk then the ruling class felt threatened. One more cause to the threat of their monopoly was raising tide of socialism and demands for entitlement based rights in democracies. After the implementation of neoliberal policies the share of top 1 percent increased from 8 percent to 15 percent in mid 1980s (Harvey, 1997). The one notable figure cannot be shown through percentage figure and that is change in absolute amount of top 1 percent because the US economies became far larger than the post war period. Also, these policies increased fee in educational institutions, health sectors and other social sectors. The whole policy of neoliberalism is about the class wars because the policies is perpetuating the class calculus by limiting the access to education, health and other social needs of mass. So, the elements of social justice are very important in the contemporary economic politics of neoliberalism.

The perpetuation of neoliberal policies was done through the policies of carrot and stick. Western democracies gave huge amount of money in the form of aid to newly independent countries for industrial-social-political developments. Also, the capitalist nations of the world arranged coup in different countries to establish a rule based on free market like in Chile, Iraq, and Afghanistan etc. the establishment of international organization like International Monetary Fund (IMF), World Bank (WB), World Trade Organization (WTO) etc. these organisation had single aim to homogenize world economy and grab the ripples produced by socialist economies.  Neoliberalism contains an explicit and self-conscious normative project for “multilevel governance”, which is consistent across the federal, regional and global levels (Harmes, 2006). As the World Bank’s World Development Report 1997 describes the horizontal and vertical separation of powers in the US constitution as ‘the classic mechanism’ (1997: p-49). The horizontal separation represents the separation between the organs of the government like executive, judiciary and legislature and vertical separation of power means decentralisation of powers between centre, state, and local government. But, this federalism is not related with classical constitutional type federalism rather it is related to market preserving federalism. Market reserving federalism talks about ‘right to exit’ i.e. the corporations and citizens should have right to exit from the market at any time and here comes the classical case of moulding of labour laws. Neoliberalism denounces the importance of trade unions in industrial settings and calls for a rule of ‘hire and fire’.

 The dubious distinction between state and market is being glorified by the neoliberal economists but is this possible to create a distinction between state and market? Karl Marx was first to criticize theoretical and practical separation between politics and market in classical liberalism. He believed that the social relations of productions and conflicts are inherent in the production process. So, capital markets are not the platform for interaction between equal individuals rather it privileges interests of capital over labour. Production and exchange cannot be viewed as occurring in non authoritative and de-politicised manner. Ellen Wood summarizes Marxist view and says that “the differentiation of the “economic” and the “political” is, of course, not simply a theoretical but a practical problem. . . Capitalist appropriation and exploitation actually do divide the arenas of economic and political action, and actually do transform certain political issues- struggle over domination and exploitation that historically have been inextricably bound up with political power – into distinctively “economic” issues” (1981: 67). So, in liberal economic sphere, political arena is deliberately being separated from economic sphere.  The state coercive mechanism is being used by market forces to bring labour into new market relations.

Karl Polanyi also reinforced Marx’s argument in “The Great Transformation” by developing a distinction between “embedded” and “disembedded” economic orders. Embedded economic orders are those orders in which market and state are more integrated and market are seen as means to an end rather than seeing it as an end in itself. He feels that economic orders are just a function of social order in which it is contained (1944: 71). In contrast, disembedded orders are those orders in which politics and economics are separate and politics is being subordinated to market like free market capitalism. So, here instead of society being embedded to social relations, social relations are being embedded into economic system (1944: 57). To further illustrate this point, Polanyi develops the concept of “fictitious commodities” i.e. land, labour and capital are fictitious commodities in that they are inputs of production rather than products produced so far for ‘sale’. So, supply and demand mechanism should not be applied to them in quite same way in which it is applied for other things.
This can be understood through a brief example. If the demand for petrol is less than its supply then they market will be clear about decreasing the price of petrol but if in a society where unemployment is very high and industries will recruit them at less wage and other benefits then the labours will not sit quite. So, supply and demand mechanism cannot be run in the case of these “fictitious commodities”. Therefore, separation between politics and economics cannot be done because decrease in wages can turn labours into arranging strikes and protest which in turn will cause political instability in the society. This will be more harmful for capitalist class interests. So, the commodification of land, labour and capital might look good in theory but it is disastrous in practice.

David Harvey finds four main elements in neoliberal economic system. These are privatisation, Financialisation, the management and manipulation of crisis and state redistribution.  The commodification, privatisation, and corporatisation of public assets have been ‘signal features of neoliberal project’. New fields have been opened up for capital accumulation and world organisations came to establish these principles of capital accumulation like the establishment of Intellectual Property Rights through TRIPS agreement within the WTO. This agreement defines genetic materials, seed plasmas, and all manner of other products as private property. Now, corporations are extracting rents from the people who have played a vital role in the development of these things. Recently, some kinds of Bangladeshi folk music were being patented by American company and rents are being extracted from the indigenous developers of that music.  The degrading global environment is the result of intensive industrialisation and agricultural methods for capital accumulation through commodification of nature in all its forms. This can be defined in simplest term as the transfer of public assets from state to private companies.

The financialisation of world capital is the product of neoliberal developments. This financialisation is done through speculation, predation, fraud and thievery. Stock options, Ponzi schemes, structured asset destruction through inflation, asset stripping through mergers and acquisitions, corporate fraud and credit and stock manipulations are the instruments through which shows the greed and fraudulent nature of capitalists. Eric wolf says that the connections and contradictions have intensified until the system is so complex that it is quasi-random. That does not mean that we cannot understand it but we cannot predict about the future developments of market (1997).   Except this, there lies a deliberate mechanism through which capital is being transformed from poor countries to rich countries through redistribution of wealth. Brahma Chellany writes that South Korea encourages big companies to move water intensive industries to other countries like POSCO came to Indian state of Odisha to start steel industry.  The neoliberal state also uses different means like government programmes and taxes to redistribute wealth which increases speculation in the market and make many people homeless and without security. This also gives rise to migration of poor peasant from rural centres to cities due to distress in their productive activities.



Therefore, neoliberalism as an economic system failed to produce the so called freedom for masses and economic prosperity rather it converted into a tool for reassertion of elite class power in economic dimension of society, which is perpetuating their dominance in other arenas of society. The violent repressive means through which it is being implemented in different parts of the world shows the real motives of militarily developed nation to start economic imperialism after denouncement of colonialism. The term ‘post-colonial’ for underdeveloped and developing countries does not mean anything because the drain of wealth, military repression, political instability caused by other nations etc is the commonly occurring phenomenon. The loss of sovereignty through international organization   is accepted reality in contemporary times. The reinventing of global economic mechanism is necessary to provide everyone on earth access to basic needs and sustainability of growth is more necessary than brutal exploitation of resources of humanity to restore social order.