Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Something that Republicans agree with Marx about

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
 
eridani Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-07-09 05:45 AM
Original message
Something that Republicans agree with Marx about
It was in one of my city councillor's email bulletins.

DEEP THOUGHT:

"Owners of capital will stimulate working classes to buy more and more expensive goods, houses and technology, pushing them to take more and more expensive credit, 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."
Printer Friendly | Permalink |  | Top
fasttense Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-07-09 06:07 AM
Response to Original message
1. Seems the ancients had some sophisticated financial equations.
They calculated that debt would eventually accumulate (about every 7 years) to the point of no return.

That is people would take on more and more debt each year, especially if they are encouraged to do so by their rulers. Eventually the people would accumulate so much debt that the economy would crash, leaving the society vulnerable to outside attack. Usually, the rulers would then cancel all debt in order to keep the economy going and prevent a conquering force from taking over. Of course back then the debt was usually owed to the ruler so it was easier for the ruler to cancel the debt.

We don't need banks to start lending again. We need high paying jobs to pay off the debt.
Printer Friendly | Permalink |  | Top
 
woodwrite Donating Member (97 posts) Send PM | Profile | Ignore Sat Mar-07-09 06:21 AM
Response to Reply #1
2. Wonder why the rulers cancelled those debts?
Maybe it's because debt can be settled with gold, or it can be settled with lead.
Printer Friendly | Permalink |  | Top
 
TexasProgresive Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-07-09 09:10 AM
Response to Original message
3. I am not a student of Marx
However I had the impression that communism was to be born out of a decaying capitalism. So the communist revolutions in Russia and China which had not evolved from serfdom to capitalism were not proper venues.

It looks that we may find out if Marx was correct.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Tue Oct 21st 2014, 07:58 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC