We can’t say Karl Marx didn’t warn us: capitalism contains the seeds of its own destruction. In their chase for ever higher profits, the capitalists shed workers for machines. The higher return on capital means that the share of profits rises and the share of wages falls, and soon the mass of the population isn’t earning enough to buy the goods capitalism produces. And that’s exactly what’s been happening over the past four years of the Great Recession: ever increasing income inequality, leading to ever weaker aggregate demand – temporarily disguised by an unsustainable credit binge – leading to collapse. You don’t have to be a communist to see that this is so. We should all be Marxists now.
the second part of the vidro description that got left out
Or should we? Every time capitalism hits an inevitable bad patch, Marx’s name is invoked with wearisome regularity. But no serious economist or political thinker – with the possible exception of Gordon Brown – has ever suggested capitalism can break free of booms and busts. Once bust, as we’ve seen time and again, the capitalist economy has a robust in-built ability to restore itself. As for all the talk of growing inequality, hasn’t anyone noticed that ordinary people in the capitalist West have enjoyed an astonishing long-term rise in their standard of living? We are not suffering an existential economic crisis. We do not need extraordinary remedies. We do not need Marx.
who is this and how are they benefitting from capitalism?
This is the original source. It’s a channel that hosts debates. Probably not worth watching based on some of their other videos
Haven’t finished this, but around 16 minutes in the first dude on the ghoul side’s argument boils down to: “The contradictions of capital are actually quite fixable, but you see we have a roadblock in the form of Chinabad.”
Fucking monsters can’t fix the system without cannibalizing the global south.
“We can fix the contradictions of capital if we just ignore 9/10ths of humanity.”
“We don’t really know how we’re going to solve [increasing income inequality] in the long term, but capitalism still has very persuasive credentials.”
Benevolent capitalists like Henry Ford will simply raise wages and invest in labor because robots can’t buy cars
I’M BECOMING THE FUCKING JONKLER
If only China would remove state meddling from their economy, the system would correct itself.
Loser of the game tells winner how they could play better.
Ghoul #2 could be torn apart by your average Lemmygrad poster. Really basic End of History shit.
Marxist #3 at around 40 min is fuckin based as hell, I need to scroll back and get his name.
Ghoul # 3 (Former Marxist): Actually, there’s nothing wrong with state intervention in capitalism. We just need to pull ourselves up by our bootstraps, live by our middle class values, and work through things rationally. Also who says there’s a collapse? This auditorium is full of comfortably middle-class folk.
Marxism is the intersection between past foresight and future hindsight
