Global ruling class: the crisis of capitalism ultrabogachi become even wealthier

Despite the global financial crisis has been going on for over 3 years, a growth state oligarchs planet continues. 35000 "ultrabogachey" have become even richer than before, prietom position of the working world worse. The annual World Wealth Report, compiled by companies Merryll Lynch and Capgemini, - a thorough study of the liquid, suitable for investment capital in the hands of the wealthiest people on the planet. We are talking about the owners of large net assets (from $ 1 million of liquid wealth) and the largest net asset value (from $ 30 million)

, Excluding in both cases the main housing, collectibles and consumer goods, including durables.

As such, the report is an invaluable starting point for understanding of who represented the ruling class, where these people live and how they keep their wealth.Here are the data from the Report.

World population of owners of large net assets (in the terminology of the researchers - High Net Worth Individuals, or HNWIs) increased 17.1% to 10 million people in 2009, reflecting a parallel process to restore their wealth increased by 18,9% to 39 trillion dollars. And in the Asia-Pacific and Latin America index of wealth is now higher than the level recorded in late 2007.

For the first time in the history of observations, the number of HNWIs-populations in the Asia-Pacific region was the same as in Europe (3,000,000 people).This shift in ranking occurred because the increase in wealth of these people in Europe, though considerable, is still far less than in the Asia-Pacific region, where the local economy experienced a long, steady growth, both economic and market factors welfare.

Capital Asia-Pacific HNWIs representatives reached a value of 9.7 trillion dollars at the end of 2009, an increase of 30,9% and thus exceeded 9.5 trillion belonging to the European millionaires.Hong Kong and India are leaders in the region, recovering from tremendous losses in the number and wealth of millionaires in the background of an unprecedented recovery of their stock exchanges.

World population HNWIs, nevertheless, remains highly concentrated in space.United States, Japan and Germany continue to represent 53,5% of the rich world at the end of 2009, losing in the positions of only a very little compared to 54.0% in 2008. Due to a significant economic recovery, Australia became the tenth largest country - a place of residence HNWIs, ahead of Brazil.

As for the owners of the largest net asset value (Ultra-HNWIs), they had lost 24.0% of his fortune in 2008, restored it to 21.5% in 2009.In late 2009 ultrasostoyatelnye people owned 35.5% (earlier - 34,7%), the world's wealth owned by millionaires. At the same time, they accounted for only 0,9% HNWI-members (as in 2008).

In 2009, total liquidity wealth of millionaires - 39 trillion dollars - was actually more than two thirds of world GDP over the period, which is 3 times greater than the GDP of the United States and 10 times greater than China's GDP.You can look at this sum from another angle: thus, an increase of liquid assets the richest people in the world from 2008 to 2009 totaled 6.5 trillion dollars, more than 10% of world GDP in 2009. And it happened at the same time when the world's GDP declined by 0.8%.

The difference between the economic and market factors of wealth "is very important and very informative. Much of the growth of wealth in the hands of the millionaires, as can be seen, there was not due to overall economic growth, but because of stock market capitalization. In other words, market relations, supported by government intervention, increased the overflow of capital from the working class to the wealthy, while the conditions of most of the world's economies are not allowed to maintain high levels of profit through the direct exploitation of labor.Here's what he had to do and made public a plan of salvation of the economy.

Other intentional consequence is that the number of millionaires grew to 10 million (0,014% of world population), more than that, "ultrabogachi" succeeded far more to increase its share of net assets than ordinary millionaires - hence, the wealth was more concentrated than Earlier, in the hands of about 36,300 people, or 0.0005% of the human population.

As a result, the standard of living of the working class in most developed capitalist economies has declined and will decline further: while the most affluent rich, global unemployment rose by 14,4%.

The role of financial capital in profit-making varies greatly - and in this context the contribution of China to the reproduction of the global ruling class is outstanding.While government intervention in the financial rescue of the economy (temporarily) has decided many of the problems of millionaires in Europe and North America, in China (and to a lesser extent, India, where the stimulation began before the crisis), an unprecedented expenditure commitments were on hand as millionaires Asia-Pacific region and the ruling class of the United States.

This happened partly because the growth of Chinese economy was already stable as many other "newly industrialized" countries.This means that China's economic incentive amount per capita was higher than in any other country, and, as such, explains the 95% growth in first 3 quarters of 2009. In addition, partly influenced by the fact that the financial and banking sector in China belongs to the state, which could better monitor and coordinate the promotion of its result.

Much has been said about the Chinese regime's policies to increase wages. In fact, the state has created a stimulating environment for the growth of the gross amount of surplus value, both through increased employment and productivity.Productivity gains offset the wage increases, thus it was possible to raise wages and living standards.

At the same time, continuing the trend decline in the share of wages in GDP. As a result, 0.4% of the population control 70% of the total wealth of the country. Economic growth in China is really dependent on the reduction of the share of wages in GDP, and the world capitalist system would be in a much worse situation, if any, the trend has changed.

In fact, according to the World Bank, and the only stimulate the economy in China has caused the growth of world GDP in 2010 to 1% - an incredible number.By some estimates, China's GDP at purchasing power parity already exceeds the U.S..

The economic rise of China has allowed its ruling class dramatically increase the demand for luxury items, so that market for luxury goods has increased by 49%: the rich are pampered like a normal set of planes, mansions and yachts.But the boom also contributed to U.S. economic growth through direct investment and purchases of government debt.

The role of the Chinese working class, the largest in the world, playing a world-ruling class has steadily increased since 1978. At the moment, interest is whether it can continue and continue. World Wealth Report expects the Asia-Pacific region, excluding Japan (despite the significant amount of state incentives in this country), will be the leading source of growth.

Apparently, the rich layers of hope that China will continue to be the motor of economic growth and, consequently, profitability.Over the past 30 years, growth in China much faster than rates achieved after the revolution, 1949, and more than twice the world average.

Its share in world production rose from 2% to 18%, filling a bottleneck to the extent that, as in Europe and the Americas reduced job vacancies. Expansion of China led to a resurgence of regional growth, including by allowing the Japanese capital to increase profits by attracting the Chinese labor force, and there was a significant engine in world economic growth since 1982.

But as a result stimulate the Chinese economy accumulates enormous reserve capacity, exacerbating the global problem and jeopardizing the possibility of sustained growth in the future.It must constantly counteract the "overheating" and with a margin of lead in growth while the rest of the country are doing exactly the same, and this is undermined by China's ability to lead a new phase of capitalist growth.Tendency to over-and lower profitability are already visible. Despite the enthusiasm for the growth of wages, real wages are still so low (industrial workers in China earn less than 5% of the average rates in the U.S.) that they can no longer decrease is much stronger.

Even if this were possible, it is possible that the effect would be to strengthen the global deflation, which would hurt the economy, the access to markets that depend China. Thus, China is likely to end than at the beginning of a long wave of economic growth.This growth was based on already lost by the global neoliberal expansion, based on "primitive accumulation", which was followed by a record increase in the number of working-class country.

Even if the ruling class is able to overcome the current obstacles to the further accumulation, it is difficult to believe that further periods of growth will occur in the same way. On the contrary, it seems that in the foreseeable future we expect competition for a decreasing share of surplus value.In this regard, Obama has announced that America is going to conduct an updated open-door policy "on the recommendation of a new advisory council, headed by executive director of General Electric.

This policy will be, in essence, forcing other countries to adopt American exports, no matter what the cost of national or regional economy, which thus vskroyut.

This may herald a new surge of aggression in the global South, especially where social movements succeeded in establishing a regime interested in independent development based on some concessions to the working class.

Also expect more frequent events like these , because white supremacy in its different forms - a common practice to reduce bargaining power of workers and neutralize the political threat from the Left. And, especially in times when growth and does not smell, but for profit n rihoditsya fight through "accumulation by dispossession", just so the ruling class and making money.

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