"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, Das Kapital, 1867
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2 comments:
To think, 142 years ago Marx predicted the manner in which America's economy would fail. Capitalism is a failed experiment and apparently was doomed from the start.
I hope you won't mind if I borrow this quote. I'd like to spread it around, I think people need to see this.
No problem! Borrow anything you like. :) I wish I had set up the email notification for when you commented so I knew it was here sooner.
At any rate I wonder what it will lead to. I'm interested now to read what was predicted in the aftermath.
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