On a busy Thursday evening on March 7, the Socialist Fightback Club at York University in Toronto held a public event at the campus’ Student Centre. More than 25 activists, students, and workers engaged in a roundtable discussion focusing on the economic crisis and austerity facing youth and workers. Aside from outlining the difficulties that are brought on by the global capitalist crisis, there was a resourceful and vibrant conversation about what folks at the event could actively and concretely do to change the situation that they have been confronted with.
What does the crisis look like for average people?
Camilo Cahis, a member of Fightback’s editorial board, gave an opening presentation to outline the current state of the economic crisis in Canada, comparing the decaying economic system in this country to the rest of the world. He asserted that the underlying weaknesses that led to the European economic crisis are present in the Canadian system and that a Europe-style crisis is very likely to occur in this country. The housing bubble that blew up in Spain is very reminiscent to the overheated housing market in Canada’s largest cities. Furthermore, contrary to what the corporate press may be saying, public debt in Canada is beginning to approach the levels seen in some of the euro-zone countries; when one combines Ontario’s share of all debt (including federal, provincial, and municipal), the province’s debt-to-GDP ratio has already surpassed that of Spain. The discussion continued to describe the various movements and revolutions the crisis has provoked in Europe and around the world.
Even some of Canada’s top bankers and institutions warn that the Canadian economy may not be as strong as the federal government insists. The ruling class is insisting that austerity be imposed in order to restore the financial balance of the country. Unfortunately, it will be youth who will be amongst the worst hit by the economic crisis. Our future is looking very grim if we do not first of all understand the crisis and secondly start to develop ways of effectively organizing for alternatives.
Our task today
The common theme of Thursday’s event was the need to find an alternative to the failure of capitalism — a system which has outlived its use and one that cannot provide a better future for today’s generation of young workers and students. A democratically planned economy, in the interest of the majority of people in society, is possible and also necessary to replace the current system of private profit and greed. More and more ordinary people are becoming interested in socialist ideas, and now is the time that we take the conversation about this theory seriously and start building a progressive future that we want for ourselves and our families.
Thursday’s event was only one of a series of discussions and activities that the York Socialist Fightback club organizes on a regular basis. If you are in the YorkU area and would like to get involved in the struggle against capitalism, you can email the club at socialistfightbackclub@gmail.com.
