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economic justice | political theory

Karl Marx's Accurate Prediction

Karl Marx's accurate prediction about the continuing crises in capitalism and the resultant concentration of capital and impoverishment of workers
Every time there is a crisis in capitalist systems, there is a purchase of smaller companies by larger ones and of large companies by even larger ones. It happened during the saving and loans crisis. It happened during the time when the auditing companies were caught cooking the books to inflate stock prices and it has occurred during the latest crisis over predatory lending by banks involving mortgages on homes. In the latest crisis Merrill Lynch was bought by Bank of America, Lehman Brothers by Barclays and both Morgan Stanley and Goldman Sachs have suitors that want to buy these corporations.This inevitably results in a concentration of capital and layoffs of many workers, since the new corporations don't need so many employees. The increasing concentration of capital results in more and more of the world's wealth held in fewer and fewer hands. As the saying goes, the rich get richer and the poor, poorer.

Karl Marx predicted this occurrence 150 years ago. But then, the corporate media and the history books say he is irrelevant and outdated and one need not read his brilliant works. Karl Marx also predicted that these continuing crises and depressions would result in the collapse of capitalism. No system based entirely on greed can continue forever. How many fingers can be put in the dike before it collapses. I am trained in science and very reluctant to believe in theories. However, I am utterly confident that capitalism will collapse someday and a system more compassionate to the majority of mankind will result. That is, if a nuclear war or environmental catastrophe doesn't occur first.

Nevertheless, Karl Marx's prediction remains accurate and illustrates the workings of a brilliant mind.

Sincerely,
Gary Sudborough

yeah whatever 21.Sep.2008 20:03

politicians giving money away to rich folks, who'da thunk it

If "the rich had been getting richer" and "the poor had been getting poorer" every year for 150 years, then

(a) we would look back fondly on the good old days of the 1880s when our standards of living were so much higher

(b) by now there would be two guys with 37 trillion dollars each in the bank and the rest of us wouldn't have a penny to our names.

Every time there's a recession the neanderthal marxists declare the Final Crisis. Jesus will be back soon as well.

Clearly the revolutionaries of the mid-19th century left some stuff out of their models. Employment and wealth concentration ebb and flow like the tides, and the ruling classes rejigger their ruling systems whenever it's convenient for them to keep the machine going.

some day? 21.Sep.2008 20:05

max

we don't have to wait for a "some day" for capitalism to collapse; it is happening before our very eyes at a very rapid pace.

Maybe there's something to this whole socialism thing after all?

final crisis? 22.Sep.2008 17:57

max

we neanderthals (socialists) have never said there will be a "final crisis" of capitalism. Yes the economy does have ebbs and flows through booms and busts, but sometimes the busts are bigger than others, and sometimes these busts lead to wars that threaten everyone. Did not capitalism fail during the great depression? during both WWI and WWII ?

If you think otherwise you are too brainwashed to reason with.

ow ow 22.Sep.2008 21:26

fall back, change the story, claim credit for critic's point

ooh, you got me there! i am REFUTED! and "brainwashed"! you are so clever