18/09/2010 - Capitalism, Mass Immigration and Vince Cable

CAPITALISM has no national, regional, racial, cultural, ethnic or religious loyalty.  Capitalists are sometimes loyal to each other – but only when it suits them.  For instance, when they operate as price-fixing cartels. 

However, in the final analysis, when the name of the game is making as much money as possible in shortest time possible, loyalty is an alien concept.  If this means swallowing up – and spitting out – one’s nearest competitor, then so be it.

And as one of Solidarity’s regular commentators recently noted:

“Capitalism is becoming more easily defined these days as - follow the cheapest workforce and you'll make the most profit.  Greed (excessive profits) is the most addictive drug in today's society.”

This pursuit of greed is also why capitalists favour mass immigration.  It’s hardly a state secret that most immigrants are exploited and tend to end up in lower-paid jobs.

And all of this makes Vince Cable a very dangerous man.  Why?

Vince Cable has been the Member of Parliament for Twickenham (in South West London) since 1997.  Prior to May’s General Election, he was the Liberal Democrats’ main economic spokesman.  At the moment, here’s the Con-Dem Government’s Business Secretary.

In the past, Cable has been highly critical of some elements of the capitalist system.  He’s called hedge funds, which profit from short-selling as "masters of the universe".  He’s also criticised the bonus culture in the banking system. Indeed, early last year he called for bonuses to all bank employees to be frozen.

When the Con-Dem coalition formed, many trade unionists had high hopes that Cable would inject it with a bit of economic common-sense and straight talking.  

However, since joining the Millionaires Cabinet, he seems to have been unduly influenced by the Tories.  He now appears to be a supporter of massive public spending cuts.

As a Liberal Democrat he’s always been in favour of immigration.  However, he’s now taking an increasingly pro-capitalist line by supporting immigration on economic grounds.  He now only wants “immigration control measures that support business recovery and economic growth.”

In July – whilst Prime Minister David Cameron – was in India, Cable criticised a decision to cap the number of work permits issued, on the grounds that it would deter trade with India.  At the time he said: “It’s no great secret that in my department and me personally, we want to see an open economy and as liberal an immigration policy as it’s possible to have.”

Last month he returned to the subject.  According to the Daily Mail (of 28/08/2010) he said that the United Kingdom shouldn’t saddle itself with ‘excessive border controls, which he fears would hurt economic growth.’

He went on to call for “immigration control measures that support business recovery and economic growth.”

As we noted earlier, this is a typical capitalist line.  Remember, it’s all about greed.  Capitalists support immigration because they can exploit them by making them work excessively long hours for a mere pittance.

In a few months, Cable has seemingly turned from someone who had at least challenged some elements of capitalism to an enthusiastic supporter of one of its central tenets. 

We’re still trying to work out the reasons for Cable’s about face.  In the meantime, however, all we can say is that for nationalist trade unionists, he’s a very dangerous man indeed.