Extreme Socialism: The Only Antidote To Extreme Capitalism

Adebayo Adeniran
5 min readSep 25, 2022

We have run out of options.

William Gibson via Unsplash

When I wrote the article titled The Poorest are not worth saving 18 months ago, I began by quoting the research which was done by some mathematicians from Citibank in which they postulated that inequality would continue to rise and rise.

And true to form, it has.

Since 2008, we have had the global financial crash, Brexit, Donald Trump, and not forgetting the granddaddy of them all —the Pandemic.

Through these crises, we have seen the collective wealth of the 1 percent grow to disturbing proportions.

Now this isn’t by accident, but by design.

In Britain, the new Chancellor of the Exchequer or finance minister to everyone else, announced a mini budget, which was all about borrowing huge sums of money to pay our ever rising bills while giving a massive tax cuts to the very wealthiest in our midst.

Tax cuts in 2022?

Yes.

A decision that had right wing economists scratching their heads in bemusement.

In Kwasi Kwarteng’s head, the thinking is that by cutting taxes and giving so much to those who already have more than enough, our economy will be brought be back to life.

Trickle down economics 2.0

It is as though the 1980s and 1990s never happened.

It is as though the policies which led to millions of people losing their livelihoods and homes were a complete figment of our imagination.

All of which is in complete contrast to Joe Biden.

The American President tweeted last week that he was completely tired of trickle down economics, stating that it has never worked.

But why are we in Britain, with our economy severely weakened by Brexit, years of austerity and a lack of investment in our key sectors plumping for a failed economic ideology?

Extreme capitalism.

Even though the government of the day is fully aware of the fact that Brexit has failed abysmally, it is intent on ensuring that opportunities of stripping the poor of their collective pennies are carried out as though…

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Adebayo Adeniran

A lifelong bibliophile, who seeks to unleash his energy on as many subjects as possible