Pandemic has only concentrated world economic power in hands of few oligarchs

By Bhabani Shankar Nayak* 
The Westphalian capitalism and all its structures, agencies and mouthpieces have promised a world without poverty, inequalities and instabilities. The neoliberal variant of the Westphalian ideology has promised a world of prosperity, stability, peace, social and economic inclusion; the trickle-down effect.
Reform not revolution was the fundamental principle on which Westphalian state managed to accommodation the aspirations of people within a dysfunctional capitalist world order with the help of nation states. This order was considered to be the only available alternative. There is no alternative to this promised land of capitalism, which produced war, conflicts and worldwide exploitative system.
From the era of ‘New Deal’ to the era of ‘Bretton Woods’ reforms have managed to help Westphalian capitalism to flourish and survive from all its internal conflicts and crises during 20th century. The worldwide propaganda in…

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