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Right and Left Agree: Tax Financial Activities
At Vancouver labour meet, world financial leaders align with trade union reform agenda, sort of.
Dominique Strauss-Kahn, managing director of the International Monetary Fund.
On this, leaders of global labour and finance apparently can agree: Financial wheelers and dealers must be taxed to pay for the financial calamity they have caused.
That rough consensus has emerged this week in downtown Vancouver at the second world congress of the International Trade Union Confederation, where union members from around the world listened to their own leaders as well as top executives of the International Monetary Fund and the World Trade Organization discuss how to clean up the global economic mess and prevent another one.
Delegates expressed some pleasure in having heard heavy hitters from world finance endorse at least some of the analysis and proposals for reform being promoted by their movement.
At the same time, no one was prepared to announce a major breakthrough, as speakers from the IMF and WTO had been careful to distance themselves from the strongest elements in labour's recipe for world economic renewal.
Dominique Strauss-Kahn, managing director of the International Monetary Fund and Pascal Lamy, director general of the World Trade Organization spoke on Tuesday afternoon to delegates at the international labour gathering being held under the slogan "Now the People."
Strauss-Kahn addressed the global trade union movement's support for a financial transactions tax as part of its proposals for global economic renewal.
He said, however, that the IMF had expressed its preference for a different kind of financial activities tax based on profit and compensation. Despite this disagreement, which he characterized as a "technical discussion that needed to take place," Strauss-Kahn said he agreed with the ITUC that a substantial contribution from the financial sector is justified to pay for the cost of the crisis and to dampen overly risky behaviour in the financial sector.
Close, in the eyes of some of the delegates who spoke to The Tyee, but no cigar.
Labour's agenda for G/20
Pascal Lamy of the WTO told delegates he agreed with trade unions' advocacy of stronger regulation on the financial sector, which had caused the global crisis, and observed that the global trade union movement had played a valuable role in pushing for greater coherence among international institutions. He invited trade unions to play an even stronger role in favour of regulation and coherence in the future, both on the national and international level.
Good to hear, The Tyee's union sources said, but still short of what ITUC leaders will be urging on world economic leaders gathered next week at the G8/G20 meetings in Ontario.
The recipe for what international labour leaders want to see come out of the Toronto summits includes decent work for all, labour market justice and equity, strong new regulations on financial instruments and speculation, including an international tax on financial transactions that would help fund recovery and future bailouts, a sustainable low-carbon future, a new model for economic development that puts social justice on the priority list and better governance of the globalization process.
All in all, considerably more ambitious than what the guys from the IMF and the WTO were willing to endorse.
Still, it is remarkable in itself that the leaders of such major bodies of the world capitalist system were willing to attend an ITUC meeting and support even part of the labour agenda.
It may be true, as that seasoned old labour reporter Oscar Wilde once remarked, that hypocrisy is the tribute that vice pays to virtue, and that once the other side has to pretend to agree with some of your values you are part way to victory.
So maybe the cautiously optimistic response of delegates to what they heard on Tuesday from the IMF and WTO struck exactly the right note, so long as the stress falls on the word "cautious."
Find more of Sandborn's reporting from the ITUC on The Hook here. ![]()




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rantnic
1 year ago
WHO'DA THUNK
Could this be the same WTO that has been striving to give multi-national corporations "Country Status"? The same IMF that has been bankrupting small countries for profit? Let us not be fools and give the keys to the hen house (FFT) to these sly foxes.
Camero409
1 year ago
Letting these Guys in?
I don't think they have labours interests at heart. They are in fact a defacto organization of the Bilderberg Group. Keep them far away from having a say on Labour initiatives.
Jerry Munro
1 year ago
Let the Usurpers now be Usuped I...
"At Vancouver labour meet, world financial leaders align with trade union reform agenda, sort of."
While this side of capitalism, if this is to continue for a time longer to be the prevailing socio-economic system, over the short run, I can certainly agree with taxing those financial/banking institutions at the root of nearly all economic crises... it is little more than a band-aid to a gaping terminal wound solution. First, as we should by now be familiar with the destruction of the postwar social contract between capital and the working class, and the subsequent "deregulation" that has gone on since, a new tax "regulation" will be but a matter of convenient time, when this deregulation and taxation can and will be undone, as the prelude to the next great crisis of capitalism. It is a sop. (And we aren't even out of this latest crisis yet... if we ever will be.)
But what is really pointed up here is the problem the working class and further working class progress has with its own "official labour" leadership. The current leadership of it, growing up out of and establishing itself as a "business labour model" out of the attacks upon and eventual rooting out of the earlier depression era radical socialist, communist and anarcho founding leadership, a consequence of the cold war hysteria... this current leadership tends to see itself as a "management of labour" institution FOR capitalism. And as it is doing here at this meeting largely, in my read and view, it is attempting to re-establish the old style regulatory regime that will once again make capitalism viable and supportable by the working class masses... while effectively serving the ruling class interest in "labour peace" and "stability".
Continued next post...
Jerry Munro
1 year ago
Let the Usurpers Now Be Usurped II...
Continued from previous post...
This is that "business trade unionism model" leadership that still believes in capitalism and wants to help it, in its profit/greed interest pursuits.
However, in the final analysis, the interests of capital and labour are irreconcilable as the pursuit of profit occurs at the expense of "labour share" and at its extreme, is the cause of the working class poor and the underclass. And while this is influenced by "power balance" phenomena within capitalism, particularly the degree of working class alienation from the status quo, its degree of organization and preparedness to "take capitalism on", so long as capitalism continues, this tension and class war goes on... ebbing and flowing. It's why strikes are endemic to capitalism.
It is time for this bureaucratic "class collaborationist" leadership to be challenged by another rank and file based perspective; one prepared to challenge the assumptions and continued existence presumptions of capitalism itself-, as it once was, at the time of the labour movement's founding. These guys were themselves usurpers, in an earlier time, and it is now again, finally time for them to be usurped, in a rebirth of working class creative radicalism and militancy.
That, or suck it up... with declining quality of life demands now being made into law and practise, and implemented, with the feeble and ineffective protestation compliance of "official labour", nationally and internationally.
realisticman
1 year ago
Welcome to Canada
Life is Good.
http://news.bbc.co.uk/2/hi/business/10409354.stm
myworld2
1 year ago
coyoteman
You make good points in my view. 15 years ago I started saying that the struggle for social-democracy is lost - with just occassional battles to win.
There is a long way to go in motivating us working people to fight for real change. Witn the capitalists controlling most of the message I find it difficult to find good layperson information about how a different economy could look.
In the meantime many working people, unionized and not, believe that we do not deserve a comfortable and diverse lifestyle. The people who earn $12 per hour have disdain for those who earn $25 while the latter are looking for $30. And, currently, the union movement does not even have the power to effect something as basic as the minimum wage in BC.
Jerry Munro
1 year ago
myworld2
Brother/sister.
I hear you re all the attitudinal and other internal problems within the working class that get in the way of its appropriately coming to grips with the current social, economic and political period. It is deep rooted and seriously problematic, I agree, but not insurmountable I think.
Much, for sure depends upon how capitalism itself responds right now, within the short term, to either seriously seek to make another social contract peace here with the larger working class, or whether instead, as seems to be its chosen direction, to bear down harder, with additional demands and a new system of repression on working class rights. This latter course, which again seems to be the choice of the hour, leads out there somewhere, to a line in the sand beyond which the masses have no choice but to find their backbone, begin to seriously resist, and challenge capitalism itself and those within The House of Labour who fundamentally serve it.
Where that line is frankly, we are all currently just guessing... as you seem to well know. But I just cannot believe that, contrary to all working masses history, from the time of outright slavery to the wage slavery of the present, that the stoic patience of the masses goes on forever, and they are incapable of rising up in defence of their own interests, and for a more workable socio-economic model alternative.
"I find it difficult to find good layperson information about how a different economy could look."
And that is because, to the best of my knowledge, the book has not been written yet, frankly, and no suitable alternative example exists, save partially and imperfectly here and there in bits and pieces. As fragments of history. But what is clear to me, up front, is that it does not exist in the "big state" model of either the old USSR/China, or for that matter, "western democratic socialism". There, as should be clear by now, all roads lead back to capitalism... to which my friend and critic Fait Lux well attests often here. :-)
But what is clear to me otherwise is, that it begins with the further development of democratic practise that INCLUDES the working class masses within their work places, their management and Board of Directors strategic direction planning etc,, and local level communities of society. Wherein has to exist the future "centre of real power" in society and "the nation".
But the central point that has to be made is, I think, it has to be shaped by our working class experience and practise within capitalism, and over the course of overthrowing or "replacing" it.
In short, we do what works, and at the same time maintains working class power... not that of any "state" or "party", or old ruling class.
I argue for the "collective" interest, wherein the interests of the "individual" reside and are best served. :-)
RickW
1 year ago
Adam Smith Nailed it!
"To establish a joint stock company [shareholding corporation], however, for any undertaking, merely because such a company might be capable of managing it successfully; or to exempt a particular set of dealers from some of the general laws which take place with regard to all their neighbours, merely because they might be capable of thriving if they had such an exemption, would certainly not be reasonable."
http://www.stwr.org/multinational-corporations/corporate-rights-and-responsibilities-restoring-legal-accountability.html
Noggy
1 year ago
Change the people, change the rules
I'm with Coyoteman, suck it up, then spit it out!
dorothy
1 year ago
but-but-but
"it has to be shaped by our working class experience and practise within capitalism, and over the course of overthrowing or "replacing" it."
When the Danish union man (he came from 'the metal') Anker Jorgensen was elected Prime Minister, one of his former union brothers/voters/supporters confronted him with the words: "Cngrats, Anker. Now remember who you are!"
I think he actually did. But his governance was seen by some to be stolid and lackluster, for which reason he was in and out of office, alternating with some conservative guy. But I think my query here is: why do you think that changing the people will change the game? For those not getting elevated to political office, isn't one set of dudes pretty much the same as any other? Isn't it better to follow Buckminster Fuller's idea of building a new model that makes the old one obsolete?
I know that the specifics of the new model is forever the sticking point. Isn't it getting a bit embarrassing that the best we can come up with is replacing the bobbleheads with some of our own? Should we not get visionary and work on the better model, and do it real soon? How about starting with Ed deak's paradigm that includes thermodynamic parameters as economic entities, and the total change of perspective that would give? I saw a diagram some years ago, from, I think, some outfit called the center or institute or some such thing, for sustainability. It compared the old economic model with one that incorporated some new feedback mechanisms to do with sustainability, and it was pretty riveting, but I never saw a whole discussion evolving from it, for we always come back to this tired old idea of let's just jettison the old tyrants and then put in our own, er, tyrants (of a better sort, mind). The drawing table is an inescapable idea somehow...I also think it might serve to 'motivate' a few working Joes and Janes better. The metaphor of horses fleeing into the burning stable is not far off...
RickW
1 year ago
Dorothy
With Ed deak's paradigm, people can't get rich and powerful. Bit of a bummer, don't ya think?
Jerry Munro
1 year ago
Text books and reality I...
Capitalism took shape, not out of any text books particularly defining its detailed outlines, which came later in the works of such as Smith and Marx, but out of the popular risings, typically led or usurped by the new wealthy merchant classes, such Cromwell's Roundheads in England, against the monarchist feudal systems of Europe. Which, needless to say, over a convoluted historical events course, first succeeded in England, over the time frame of the 17th and Th centuries. The shape of this capitalism was less "theoretically" driven, than it was molded into its more or less current form by the ebb and flow of the struggle, and the comparative strengths of the peasant/artisan and wealthy merchant classes forces that engaged in the great revolt against feudalism. (Which ended, more or less, with the great historical compromise, at least in England, that gave real power to the rising new merchant and industrial ruling class, and figure head power and participation opportunity to the old ruling nobility... resulting in the parliamentary House of Commons and House of Lords system, such as we have a "modification" of ourselves.)
And while some folks, especially of limited intellectual grasp of the complexity of the revolutionary process, would have us tied up in the knots of dotting every i and crossing every t, into a blind alley infinity, the "flawed" and "more clumsily complex reality" is, that this is not how it will begin, or likely evolve. It will of greater likelihood be a more down in the mud, the blood and the beer course that gives the new order structure and shape.
(Which should not prevent those of greater or different intellectual skills than I, and time, from attempting to create the great works that will be needed, carrying the works of Ricardo, Smith and especially Marx forward-, laying the "theoretical foundations" for the new working class centred democratic socio-economic system. They are of greater likelihood however, to follow real developments on the ground, as to illuminate it greatly in advance.Which is NOT to say, they will be valueless. Far from it.)
Continued next post...
Jerry Munro
1 year ago
Text Books and Reality II...
From previous post...
As I say, typically it is small minds of little reach and less preparedness to engage in the nit and grit of real struggle to transform society, and shape it over the course of that, who feel the need for the soother sucking comfort of something "written down" in advance of doing very much of anything. Even then, there is always other excuses for failing to act which keep them in the place from which they never ever move. Nothing is ever quite good enough for them.
Whereas, I think, the essential shape of what is needed is already by now clear: A democratic social and economic order that includes, nay is centred around the needs of the overwhelming majority working class, which includes working intellectuals, and places all power, in the final analysis, into their hands... starting with control of their work places (economic enterprises) and communities. And from there, evolving such a democratically controlled national political system as is needed.... based upon the principles of party/non-party proportional representation.
The key though, is a popular based system of working class control over the management, direction, priorities, and distribution of share of/from economic activity. For the real source of ruling class power currently is, their ownership and control of the economy, regardless of who or which group is in power. Which brings them all to bend the knee to them.
What's needed is less theory at this point, than mobilization, organization and engagement in the coming revolutionary struggle. The "great theories" will flow out of this as an after product.
dorothy
1 year ago
You and Matthew
“…The shape of this capitalism was less "theoretically" driven, than it was molded into its more or less current form by the ebb and flow of the struggle, and the comparative strengths of the peasant/artisan and wealthy merchant classes forces that engaged in the great revolt against feudalism. “
- And what a great success that was!
“As I say, typically it is small minds of little reach and less preparedness to engage in the nit and grit of real struggle to transform society, and shape it over the course of that, who feel the need for the soother sucking comfort of something "written down" in advance of doing very much of anything. Even then, there is always other excuses for failing to act which keep them in the place from which they never ever move. Nothing is ever quite good enough for them.”
Maybe they think we got burned once and should be twice shy…?
“…the essential shape of what is needed is already by now clear: A democratic social and economic order that includes, nay is centred around the needs of the overwhelming majority working class, which includes working intellectuals, and places all power, in the final analysis, into their hands... starting with control of their work places (economic enterprises) and communities.”
“a popular based system of working class control over the management, direction, priorities, and distribution of share of/from economic activity. For the real source of ruling class power currently is, their ownership and control of the economy, regardless of who or which group is in power. Which brings them all to bend the knee to them.”
less theory at this point, than mobilization, organization and engagement in the coming revolutionary struggle. The "great theories" will flow out of this as an after product.
But one thing is sure: The dictatorship of the proletariat. Some people still want to tag my neighborhood, even if they don’t live here and pay taxes…
Matthew, chapter 6:
6:25 Therefore, I tell you, don't be anxious for your life: what you will eat, or what you will drink; nor yet for your body, what you will wear. Isn't life more than food, and the body more than clothing?
6:26 See the birds of the sky, that they don't sow, neither do they reap, nor gather into barns. Your heavenly Father feeds them. Aren't you of much more value than they?
6:27 "Which of you, by being anxious, can add one cubit to the measure of his life?
6:28 Why are you anxious about clothing? Consider the lilies of the field, how they grow. They don't toil, neither do they spin, [compare]
6:29 yet I tell you that even Solomon in all his glory was not dressed like one of these.
dorothy
1 year ago
You and Marx
Ah, maybe the capitalists DID have the right approach? And the fact that we are now supposed to mount a revolution we haven’t bothered to engineer too much in advance (just jump right in!), well we’re on the right track here, endorsed by both the Bible and the present holders of power, which of course they won’t be for much longer. Er, logic in that? Not necessarily, but who cares, we can’t just sit there. That would put us in the same class with lazy wimps like Dorothy. But wait, there’s more:
Quote from Wikipedia:
http://atheism.about.com/od/philosophyofreligion/a/marx.htm
‘According to Marx, religion is an expression of material realities and economic injustice. Thus, problems in religion are ultimately problems in society. Religion is not the disease, but merely a symptom. It is used by oppressors to make people feel better about the distress they experience due to being poor and exploited. This is the origin of his comment that religion is the “opium of the masses” — but as shall see, his thoughts are much more complex than commonly portrayed.
For Marx, economics are what constitute the base of all of human life and history — generating division of labor, class struggle, and all the social institutions which are supposed to maintain the status quo. Those social institutions are a superstructure built upon the base of economics, totally dependent upon material and economic realities but nothing else. All of the institutions which are prominent in our daily lives — marriage, church, government, arts, etc. — can only be truly understood when examined in relation to economic forces.
According to Marx, religion is one of those social institutions which are dependent upon the material and economic realities in a given society. It has no independent history but is instead the creature of productive forces. As Marx wrote, “The religious world is but the reflex of the real world.” ‘
So, we come full circle here. Capitalist reality to religious philosophy to political strategy to “new reality” that will somehow in the process be magically transformed into something fabulous even though we are putting further details on the intellectual backburner for the great minds to work on, when we have procured suitable office space by giving the present wrongful occupants the boot.
“Just get in there and take over, clear the territory by whatever means necessary and at hand, and then, once it’s ours, we can work out the details? As spoken by all the corporations, beginning with the East Asiatic company!
http://www.gangsofamerica.com/gangsofamerica.pdf
I’m still, as a member of that ‘working class’, wondering what the deuce is in it for me?? Are you not getting through your head that I’m one of those you will try to ‘motivate and mobilize’??
Jerry Munro
1 year ago
Embrace It...
I suspect most of you folks are doing precisely what I am: watching the new revolutionary period unfold in shifting winds of reality at the G20. (It matters not what bible thumpers and/or others may think "theoretically". There it is. Stark. Naked. Real.Physical, rather than intellectual.)
Don't kid yourselves, beyond the circle of goon squad phalanx lines (cops) of the ruling class and its State power, those who are directing it know very well what they are doing. Only some of us will have any doubts. They are sending a message, and "THEY" know it.
They don't give a rat's ass what you think, or what your sense of morality or belief system is.
Whether or not you are part of the "Black Block", violent or peaceful, we don't give a fuck. If you dare stand in opposition to us, we will crush you.
"Thank you.", though that is more tongue in cheek said than not. You of the system's goon squad sensibilities did more to advance the revolutionary cause today, than we, of the serious left, could have ever done without you.
Welcome to the new socio-economic period, in all its consequences. Welcome to the new period of revolutionary struggle for a new democratic reality, and for the re-assertion of working class rights and dreams.
The future is no doubt unfolding as it is anyway... even should. Embrace it.