From the article of 'Petrel'
No.697 / October 11, 1998

Please send us your opinion and the impression about this article without reservation.

G7 exposed the Powerlessness of the Rule of Capital.

It pressured Japan to invest the Public Funds.
The World Capital has inclined to a corrupting "Relief Plan" more and more.


----------
The representatives of the world big capitals have gathered and talked together about how to overcome the economic crisis all over the capital world. However, they could not find the answer of course. The G7 (The conference between the ministers of finance and the presidents of the central banks of main seven countries) emphasized especially about Japan, and announced such declaration as followings, that is, just the nation of Japan and the just the policy of Japan had the key of the business recovery of the world in the future, Japan should adopt "the enough and continual stimulation plan of the domestic demand," and should invest decisively the public funds to "the bank being able to continue." There is exactly the appearance of the cornered world bourgeoisie who are getting flurried and going this way and that way.
----------

However, it is useless that the capitals of all over the world impute the responsibility to the Japanese big capitals and the nation and urge them to admit the consequences. Because the Japanese big capitals are also in the definite crisis and they have never the power to save the crisis of the capitals all over the world and to become the savior of the world capitalism already.

Japanese capitalism is rather driven into the situation that it cannot live off without the "Support" of the capital all over the world, too.

It might be too clear that Japan could not take the large-scale economic expansion policy, "the powerful and continual domestic demand expansion plan" by the nation in the terrible financial collapse.

If could, it might only by the substitution of the rapidly advancing inflation, and it might also be the roads to the definite collapse of the economic society in Japan.

G7 expresses to invest the public funds to the bank being able to exist.

They do so just now when all Japanese are discussing and fighting whether this policy is correct.

Is this not "the interference in domestic affairs" at all?

However, neither the bourgeois public opinion nor the reactionaries do not give any voice of protest to such a plain, open, and high-handed "interference in domestic affairs," though they fuss over in case of other time.

The powers and the public opinion who have expressed the investment of the public funds fuss over as if it is the only special medicine and the only solution plan with triumphant now.

They begin to say that they should invest the public funds even into the "Excellent" bank that exceeds 8% in the own capital now.

They are about to say as if it is already a predetermined fact to invest the public funds to the bank and say only the scale or the way is the problem.

However, a bank is also an enterprise, so if the rate of the own capital is low they should procure it for themselves. If they cannot so, it is the law of "the market economy" that the company will receive the decision of "market" and is weeded out, is not it?

Why is it the law of capital that the rate of the own capital is low and will fail, so they should invest the public funds? It is exactly the way of "socialism" that the bourgeoisie has criticized, is not it?

You have assumed such a way to be a way of the Soviet Union and China, and you have criticized and attacked it as the ringleader who has spread the irrationality and the non-efficiency of economy, and who has brought the rot and the collapse, the moral-hazard. However, the thing you are doing now is exactly the thing you have repelled as "Socialism."

Though the thing they are doing is actually the way that Keynesian has recommended, but they cannot defend and beautify the way openly, so they only do it as the gloss-over policy of the moment and temporality.

The Communist Party is emphasizing that the crisis of the bank should be overcome by the own responsibility and the own load of the bank and the money of nation should not be put out even if a penny.

Thought the Communist Party insists that just it becomes to defend the capitalistic production, but on the contrary, if it is the one that deepen the capitalistic crisis how does the Communist Party do? Though the Communist Party says that it is unnecessary to relief bank, they say the reason is that the capitalism can do well without such thing. When the crisis deepens in spite of the relief plan of the nation, (You, the Communist Party. It has already been done enough.) what an extraordinary misunderstanding it is!

G7 talks briskly as something specific nation is responsible for the economic crisis, insists that Japan has the obligation to overcome it and have the method.

However, the world economic crisis is the problem of the responsibility of the hole capital, that is, the hole bourgeois nations, so it is not the thing that neither the United States, Canada nor Britain are not in the economic recession now and are not responsible for it.

Such things are a conceit or a selfish illusion of the United States and the United States, the piss-away of dollar by the United States mostly owes the "Responsibility" for the world crisis now appeared in such shape.

The government and the Liberal-Democratic Party try to put the financial crisis overcoming plan by investing a large-scale, public capital into practice with the back ground of the declaration of G7 and assuming it to be "the Imperial standard." The bourgeois public opinions are also about to rush into such direction as a whole now.

The improper demand of the rotting financial capital is about to go unchallenged.

Then, how are the opposition parties?

We cannot expect the sissy opposition parties that dread to be accused of the crisis and want to boast of false "Ability in charge of the regime" to resist such maneuver of the Liberal-Democratic Party seriously and to fight against it consistently. There might be nothing so clear that the opposition parties also follow easily --- with muttering very much --- to the way of the government and the Liberal-Democratic Party.

It is you bourgeois have talked briskly that the way to relieve the enterprise by investing the money of nation with no restriction is not the way of "Market Economy" in any sense.

You are going to adopt the way, the way you called "Socialism" for all the faults.

That is, the bourgeoisie says as a matter of fact that just "Socialism" is effective and is the only solution plan now with facing the deepening crisis of capitalism.

We do not ask whether you are the true socialist or not in this case, and only value that you have converted to "Socialist," and conclude that if even you bourgeoisie who have taken charge of and have borne the economy up to now think that there is no means to solve the current state of economy it might be the supreme truth.

The workers should hold up the flag of socialism highly and should demand it. However, the socialism that the workers demand is not the dwarfish and ineffectual socialism such as the relief of enterprise by investing of the national funds as the thought of the bourgeoisie but the socialism by the basic revolution of the capitalistic production styles.

(Translated by Yoshi)