So – called economic reforms

-contiuation of international and national situation

In the context of such a situation, primarily with the object of removing all obstacles from the way of free movement of finance capital from ‘market’ to ‘market’ at will, a worldwide wave of so – called ‘economic reforms was initiated and conducted. To remove all protectionist restrictions working so long under different forms in the economy of different countries, to liberalize the tax – structure, licensing system etc., in the economy of different countries, to privatize different sectors of their economy, as far as possible, in different countries are the main pronounced objects of these so – called economic reforms.

A strong propaganda campaign conducted through newspapers and radio – television etc., sought to create an illusion in people’s mind that all economic problems affecting people’s life were the results of socialistic planning in economy and all those are going to be solved soon by these economic reforms, particularly by the scheme of liberalizing it and allowing the market – forces to work freely.

Today the unprecedented crisis of the money – market that has engulfed the entire capitalist world economy, particularly the sunken condition of market of many countries of Asiatic region, the unimaginable worst crisis that has gripped the economies of Japan and Germany, the two countries which were appearing to be most vibrant just a few days back, are unmistakably proving the hollowness of all those tall claims of the anti – communist and pro – economic reform campaign that socialism – the socialist economy had failed and that the ‘market economy’, i.e, the economy allowing market forces, competition etc., to work freely is the panacea for economic ills of human society. It proves that this present crisis of recession in world capitalist economy has no cure within the framework of capitalism.        

---------------------will continue