Category: Systemic Alternatives

‘There is no alternative to socialism’

by SMITU KOTHARI & BENNY KURUVILLA

Interview with Egyptian economist Samir Amin.

SMITU KOTHARI

Samir Amin: “It was the financial corporations that asked the governments to step in and ‘nationalise’ them. The rescue package was drafted by them, and they are in control of most of the bailout money.”

The financial crisis continues to spread rapidly across the world, crippling banks, stock markets and manufacturing industries and leaving hundreds of thousands jobless in its wake. Two days after the much hyped meeting of the Group of 20 in Washington, D.C., economist Samir Amin shared his insights into and analysis of the arduous road ahead for economic globalisation and the urgent need for a course change from capitalism and the possibilities of a new internationalism in the form of a Bandung II initiative.

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