Originally posted by istvan
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Reply to: Economists who got it right.....
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Previously on "Economists who got it right....."
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Originally posted by Paddy View PostYes, but that has to be true free market. We do not have a free market. We are dominated by corporate monopolies that virtually control government policy.
Energy, transport, water and (almost) food in a monopoly. The people are forced to go to one supplier even if there is a bogus choice.
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Originally posted by istvan View Postso, demand needs to be increased... how? incentive to people to get rich... greed always works... do not penalize entrepreneurs, innovators, investors into entrepreneurial firms, etc... reduce taxes and handouts...
Energy, transport, water and (almost) food in a monopoly. The people are forced to go to one supplier even if there is a bogus choice.
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Originally posted by Paddy View PostKarl Marx
So Karl Marx, it seems, was partly right in arguing that globalization, financial intermediation run amok, and redistribution of income and wealth from labor to capital could lead capitalism to self-destruct (though his view that socialism would be better has proven wrong). Firms are cutting jobs because there is not enough final demand. But cutting jobs reduces labor income, increases inequality and reduces final demand. [/url]
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Originally posted by tractor View Post<Placeholder>
This is unlikely to be a long thread
EconomicPolicyJournal.com: Was Karl Marx Right about Capitalism?
So Karl Marx, it seems, was partly right in arguing that globalization, financial intermediation run amok, and redistribution of income and wealth from labor to capital could lead capitalism to self-destruct (though his view that socialism would be better has proven wrong). Firms are cutting jobs because there is not enough final demand. But cutting jobs reduces labor income, increases inequality and reduces final demand.
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Economists who got it right.....
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This is unlikely to be a long threadTags: None
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