Thursday, February 19, 2009

Marx and the current crisis

{Sigh} Oh boy... I've never thought that I would miss the good old Internet hoaxes. The quote bellow just hit my mail box:
"Owners of capital will stimulate the 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 nationalised, and the State will have to take the road which will eventually lead to communism (Das Kapital, 1867)"
My research assistant confirms that - not surprisingly - Marx never wrote this.

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