"Owners of capital will stimulate the working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks, which will have to be nationalized, and the State will have to take the road which will eventually lead to communism."
[*Karl Marx*, *1867*, */Das Kapital/*, his doctrine of the theory of surplus value]
Sounds very familiar doesn't it?
Hat tip Theo Spark
Edit:
I have been informed that the above quote is a hoax, but I have gleaned this from wikipedia
In capitalism, improvements in technology and rising levels of productivity increase the amount of material wealth (or use values) in society while simultaneously diminishing the economic value of this wealth, thereby lowering the rate of profit—a tendency that leads to the peculiar situation, characteristic of crises in capitalism, of “poverty in the midst of plenty,” or more precisely, crises of overproduction in the midst of underconsumption.
Do you remember when the Berlin Wall came down? Everyone was crowing about the triumph of capitalism and asserting that Communism was thoroughly discredited.
ReplyDeleteI'm not, never have been and never will be a communist, of any description, but I've always thought Marx a canny chap.
Certainly worth noting.
ReplyDelete