There has been a great quote from Karl Marx going around the web recently which is relevant in todays struggling economy. Marx’s work was the foundation of Communism. In Western societies Communism (and sometimes Socialism) is labelled as evil. However, there is no disputing that this statement from Karl Marx in 1867 makes a lot of sense today.
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.
Apparently, Karl Marx believed that :
Socialism would be achieved via class struggle and a proletarian revolution and would represent the transitional stage between capitalism and communism
American television frequently speaks about Socialism negatively a lot on it’s news channels (nbc, fox, cnn etc) but European countries definately have more Socialist values (i.e. public health care etc). I’ve never really thought of myself as a Socialist, and I still don’t. Though Marx’s quote does imply I am because I do consider myself to be in the middle.
That is to say, I don’t believe a 100% Communist method works and I don’t think a 100% Capitalist method works either i.e. there are people alive who are richer than entire countries and some of the richest countries in the world have the greatest wealth divides (Capitalism is probably the best system but creates a lot of divides in how wealth is disrupted).
Well anyhoo, I’m not trying to make any political or economical point here as such. I just thought the quote was very interesting :)