Fri Nov 9, 2012, 08:47 PM
Taverner (55,476 posts)
"...capital will stimulate working class to buy more and more of expensive goods..."
"Owners of capital will stimulate 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 State will have to take the road which will eventually lead to communism. "
--Karl Marx, 1857
Was he right?
6 replies, 626 views
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"...capital will stimulate working class to buy more and more of expensive goods..." (Original post)
|The Magistrate||Nov 2012||#1|
|The Magistrate||Nov 2012||#5|
Response to Taverner (Reply #2)
Fri Nov 9, 2012, 09:04 PM
The Magistrate (85,194 posts)
5. That is Not An Actual Statement By Herr Marx, Sir
Indeed, it would not have been said by anyone in the mid-nineteenth century.
Credit was extended only to people with real collateral, and working people had none....