JakeStarkey
Diamond Member
- Aug 10, 2009
- 168,037
- 16,522
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- #1
Don't know that I agree, but I do think that situation will hurt the country economically and culturally.
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Don't know that I agree, but I do think that situation will hurt the country economically and culturally.
And the reason Marx's theory did not come to pass?The original post is exactly correct, though; capitalism is self-defeating through aggregation of capital into the hands of a very few capitalists (in the extreme, and without regulation, into the hands of one capitalist). When there is no medium of exchange (money) left in the general population, there is no longer any exchange; hence, economic activity halts.
Marx pointed this out, and so did Smith. It is not really in dispute.
And then come the mobs.
And the reason Marx's theory did not come to pass?The original post is exactly correct, though; capitalism is self-defeating through aggregation of capital into the hands of a very few capitalists (in the extreme, and without regulation, into the hands of one capitalist). When there is no medium of exchange (money) left in the general population, there is no longer any exchange; hence, economic activity halts.
Marx pointed this out, and so did Smith. It is not really in dispute.
And then come the mobs.
The future is unwritten. This is not the end of history.And the reason Marx's theory did not come to pass?The original post is exactly correct, though; capitalism is self-defeating through aggregation of capital into the hands of a very few capitalists (in the extreme, and without regulation, into the hands of one capitalist). When there is no medium of exchange (money) left in the general population, there is no longer any exchange; hence, economic activity halts.
Marx pointed this out, and so did Smith. It is not really in dispute.
And then come the mobs.
Led by headless chickens?The original post is exactly correct, though; capitalism is self-defeating through aggregation of capital into the hands of a very few capitalists (in the extreme, and without regulation, into the hands of one capitalist). When there is no medium of exchange (money) left in the general population, there is no longer any exchange; hence, economic activity halts.
Marx pointed this out, and so did Smith. It is not really in dispute.
And then come the mobs.