There’s no need to repeat that we are in the midst of the worst crisis of capitalism since the 1930’s: even in the mass media this has become a mantra. But why are we in this mess? The course of action (or inaction) that is advocated depends on the answer to this question. Already, the way in which the crisis is portrayed implies an answer. The mass media has inundated us with stories of greed, stories of mismanagement and of lack of regulation. The “Anglo-Saxon,” “neo-liberal” model of unbridled free markets has been thoroughly discredited, the economic heroes of the right have fallen from their pedestals, and good old Keynes is back in fashion. The new consensus favors more regulation, more state-intervention, and more debt creation by the state in order to counter-act the deflationary pull that is contracting the economy. The debate is only about how much. That is a debate that, by its nature, is waged within the left of the capitalist political spectrum. It pits those who believe that fine-tuning the symbiosis between the state and private capital leads to the best of all possible worlds, against those who hallucinate that, through gradual statification of the economy, they will ease capitalist society into socialism. But the latter support the first in their narrative of the crisis as a result of greed, mismanagement and deregulation. They both critique capitalism, to various degrees, but their critique is a positive one. They share and propagate the belief that capitalism can be improved upon. That makes them the most crucial defenders of capitalism today.
A highlight of every child’s birthday party in Venezuela is a piñata, a brightly-coloured paper container filled with candy or toys dangling from a rope. Taking turns the children try to break the piñata with a stick. When it eventually breaks releasing its precious contents all the children jump at it and try to grab as much of it as possible. It goes without saying that the weaker children are intimidated and squeezed out by the stronger ones. Their share depends upon the size of the piñata, the number of children and, ultimately their capability of standing up to the other children. If there were no interference by the parents, several children would go away empty-handed.
How is this related to the Bolivarian process? How does the game continue? And who are the players?