THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Wednesday, September 21, 1994 TAG: 9409210005
SECTION: FRONT PAGE: A12 EDITION: FINAL
TYPE: Letter
LENGTH: Short : 48 lines
You asked a serious question (Ledger-Star headline, Sept. 8): ``Is capitalism killing the Russians?'' The answer is of the gravest importance not only to the Russians but to everyone.
The answer, which you really supply in the report, is an undisputed yes! The data presented proves this beyond question.
Capitalism is a system which puts corporate profits before people's needs and would not exist if no profits were made.
The inhuman quest for corporate profits leads to many of society's ills. In order to increase their profits, corporations feel no reluctance about ``downsizing'' and tossing people out onto the streets. They, in turn, compel the remaining work force to speed up production under the threat of further layoffs.
People rendered unemployed by this process (if they can find any employment) usually resort to lower-paying, part-time or temporary work to make ends meet. In spite of this situation, CEO salaries and corporate profits remain at record highs.
Officially, the U.S. unemployment rate is 6 percent. But this figure fails to account for the misery of people working for poverty wages (no one can live on minimum wage), homeless people with no jobs, temporary and part-time workers with no health-care benefits and those whose unemployment benefits have run out.
U.S. corporations have moved into Third World countries (after closing their U.S. plants) to capitalize on the impoverished populations. Unfettered by labor and environmental laws, they set up sweat shops, paying workers pennies a day while polluting their environments.
And then there is the economic and financial slavery forced on these countries by the IMF, the World Bank and the G-7. Most of these countries are so indebted to the World Bank (and as a result to the banks and large monopoly corporations backing it) that they don't control their own economic policies. These policies are dictated to them from outside by strangers.
The people of Russia are not the only victims of international capitalism. All working people around the world suffer because of this scourge. People's needs must be put before corporate greed if we are to survive!
VAN COSTEN
Chesapeake, Sept. 14, 1994 by CNB