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So then there is the question Marx posted a century and a half ago - what do capitalists do with the money they make? Only so much can be spent on mansions, an
by firstOrder 13y ago
So then there is the question Marx posted a century and a half ago - what do capitalists do with the money they make? Only so much can be spent on mansions, and even that is an investment. They can bury some precious metals in the backyard if they want. But then the rest of it will all go to capital spending.
What is the result of capital spending? More commodities. But who will buy the commodities? Workers. But they can't afford them, they just lost a round in the capital/labor fight. So kick the can down the road, have the workers go into debt to buy the commodities. That works for a little while, but then the problem becomes worse and a bigger collapse will happen at the next crisis.
Despite just coming out of the "worst recession since the Great Depression", the Federal Reserve etc. did save the US economy for now. I'm of the belief that sooner or later the world economy is going to hit the skids and even Keynesian New Deal measures won't bring things out of it. Only time will tell of course.
- oscargrouch 13y agoThat was also the Marx prediction, lets see if he was right.. Its not just economics, but also the human nature; we have to change the way we see and interact with the world, resources, other people.. The "Use everybody, everything, and profit whenever you see a chance" mantra is a social cancer, and will end badly for everybody.. even the ones running the show and laughing of everything