http://www.thestar.com/comment/article/594423On Nov. 9, 1989, the Berlin Wall came down, leading to the end of the Soviet empire. We thought it was the victory of democracy over dictatorship, capitalism over socialism. After 20 years, I still believe it was a triumph of democracy over dictatorship, but I would be cautious in proclaiming the victory of capitalism over socialism. In fact, I believe that capitalism is now resorting to socialism to survive the present economic turmoil.
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To understand what is happening today, we must separate socialism from dictatorship and capitalism from democracy. Dictatorship was a tool used by Marxists to seek social justice, while democracy is a tool used by capitalists to seek free enterprise. Communists believed that social justice would lead to a free society, while capitalists believed – and they still believe – that free enterprise would bring about social justice. Socialist leaders never talk about freedom but only about social justice; conversely, we never heard George W. Bush talking about social justice but always about democracy and freedom for all.
Twenty years ago, we witnessed the victory of democracy over dictatorship but not the victory of capitalism over socialism. I believe that socialism imploded for a variety of reasons but capitalism didn't win – it just survived longer.
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But the "socialization" of capitalism is going much deeper. What is the bailout of the banking system and the auto industry if not de facto nationalization of private enterprises? Aren't socialist practices bailing out capitalism? And are we sure that capitalism is not falling into the trap that eventually killed communism, namely financing activities that produce goods people don't want to buy?
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