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Friday 18.08.2017 | Name days: Liene, Helēna, Elena, Ellena, Liena

Solidarity: capitalism in its current form will not last until the end of this century

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Lech Wałęsa

Capitalism in its current form will not last until the end of this century – such is the opinion of the leader of Solidarity movement and former president of Poland Lech Wałęsa.

According to him, the capitalism system needs to be reformed so it can face modern challenges. Wałęsa points out that we are currently on the threshold of a new era. We have survived the era of war and revolution, and now we stand before the era of intellect, technology and globalisation.

No other generation before had such a good opportunity to enjoy peace and welfare, the ex-president of Poland believes. However, he notes that this new era differs from other so much that certain structural and institutional reforms are needed because the old institutions are only capable of running under the old system – they cannot cope with challenges and general pace of the new era.

He emphasized that the important question here is having a sustainable economic system. It will not be communism, of course. However, it will not be capitalism either; not in its current form. He added that the latter will not last until the end of this century in its current form. Wałęsa mentioned that there have been increasing numbers of riots all over the world lately, including in Northern Africa and USA. Protests in Egypt and USA were against capitalism, he said.

He noted that no one questioned values such as free market and private property, but everything that comes with this system was. During protests, young and educated people noted that they need jobs, and the responsibility should be taken up by businessmen, capital owners, not politicians or governments. Business needs to offer new jobs, he said, noting that no country can afford to have unemployment, because unemployed people do not pay taxes and do not buy products.

Society cannot afford unemployment. This is why we need initiatives that would stimulate the creation of new jobs, Wałęsa concluded. As an example for this initiative, he mentioned China’s plan to build multi-level transport hubs to avoid traffic jams.

In 1983, Wałęsa received the Nobel Peace Prize for his leadership of the Polish anti-communist movement.

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  1. JPR says:

    It wont even last until 2140!

    Thumb up 0 Thumb down 0

  2. jj says:

    I agree with JPR :-)

    Thumb up 0 Thumb down 0

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