[URL]http://online.wsj.com/video/roubini-warns-of-global-recession-risk/C036B113-6D5F-4524-A5AF-DF2F3E2F8735.html?mod=WSJ_hpp_mpvidcar_1[/URL]

Nouriel Roubini: "Karl Marx had it right. At some point, Capitalism can destroy itself."

[I]Nouriel Roubini is a mainstream economist who teaches at New York University and may be best known as one of the early predictors of the ’08 crash.[/I]

[I]But today, in an interview with the Wall Street Journal, Roubini admitted that Marx was right about Capitalism and raised the possibility that Capitalism is destroying itself in the way Marx outlined more than a century and a half ago. [/I]

Re: Marx was right

It is a slow yet agonising death of capitalism..economically that is. Never really looked in to Marxism. But I definitely think it's been the flavour of the year with the occupancy movements. I still ponder can society bring down capitalism?

There's a great book I'm currently reading who explains this collapse but compares it to communism as opposed to Marxism:

Loretta Napoleoni [B]Moanomics.[/B] [url]http://ebookstore.sony.com/ebook/loretta-napoleoni/maonomics/_/R-400000000000000504604[/url]

She focuses on the failures of the economic burdens in the western world, whilst in contrast talks on the victory of "communism with a profit motive." China that is. Maybe we should be learning something from China.

Re: Marx was right

while i don't disagree with marx's theory that capitalism, along the same lines, one big reason capitalism is being destroyed because too many people want something for nothing in america. very interesting read. thanks for the share!

Re: Marx was right

marx was right if you change the definition of capitalism to mean taxpayers foot the bill to recover corporate losses.

of course, when you get leftwing fucktard running corporations and schmoozing with their classmates who work for the federal government, shit will, inevitablly, get fuckked up.

china is inefficient as fuk btw. man, to even think you'd have to bribe people in this country to get shit done at a small business. their goverment is a monster.

Re: Marx was right

haha.. leftwing running the corporations.. :))) so what part of das kapital you don't really agree with...? entertaining how some of you americans see this world, capitalism implodes and it's the fault of the "lefts".

i agree on china. That's just one big central organized company playing the capitalist game better.. They are winning and all we have to say is that they are "cheating" and "that's not fair"

Re: Marx was right

It's easy why they are winning, because they can do whatever they want. If the gov't says 20k of you are going to work on this task next week then it happens. Its a lot easier to get shit done when you don't have to answer to anyone, so they've got that going for them... :lol:

Re: Marx was right

[QUOTE=res0nat0r;1003000]It's easy why they are winning, because they can do whatever they want. If the gov't says 20k of you are going to work on this task next week then it happens. Its a lot easier to get shit done when you don't have to answer to anyone, so they've got that going for them... :lol:[/QUOTE]

Communism Baby...

It's really interesting though, China does it harder, faster, better (mind the [url="http://www.mercuryserver.com/forums/djdb.php?id=313"]Daft Punk[/url] pun). I wish I was up to the communism chapter in the book I mentioned above earlier to explain more. But seemingly it's more than just 'cheating' for China. They have the numbers, the investors, the resources at their fingers. Their views towards development and fiscal policies obviously lies is a distant universe as opposed our capital views. Private ownership; is this where the west went wrong?

Re: Marx was right

The question should be: is a central organized company (China) that's buying the word, from mines in Peru to half of Afrika and now Europe (not to forget that china has lots of US state obligations) to be called communist or capitalist.. Isn't that playing the 'free market game' just better then we do?

Re: Marx was right

over 40% of the USA doesn't pay income tax... hard to have a gov't that is stable when they aren't getting their income and that funnels down to every other facet in the USA, including consumerism and capitalism. i feel like capitalism is imploding in the US mostly because as i said earlier... too many americans want something for nothing now. and the US gov't actually supports in some cases, that it is okay to want something for nothing.

i'd be interested to hear others' beliefs in their own nations outside of the US, for those whose economies are based on capitalism and if/why its failing....

Re: Marx was right

This is a pretty interesting read: [url]http://mises.org/etexts/anticap.pdf[/url]

[QUOTE]This socio-psychological study of anti-market bias was published by D. Van Nostrand Co (Princeton, NJ), 1956[/QUOTE]

[QUOTE][h=2]Table of Contents[/h] I [URL="http://mises.org/etexts/mises/anticap/section1.asp"]THE SOCIAL CHARACTERISTICS OF CAPITALISM AND THE PSYCHOLOGICAL CAUSES OF ITS VlLIFlCATION[/URL] 1. The Sovereign Consumer
2. The Urge for Economic Betterment
3. Status Society and Capitalism 4. The Resentment of Frustrated Ambition
5. The Resentment of the Intellectuals 6. The Anti-capitalistic Bias of American Intellectuals
7. The Resentment of the White-Collar Workers 8. The Resentment of the “Cousins” 9. The Communism of Broadway and Hollywood
II [URL="http://mises.org/etexts/mises/anticap/section2.asp"]THE ORDINARY MAN’S SOCIAL PHILOSOPHY[/URL]

  1. Capitalism as it is and as it is Seen by the Common Man   
  2. The Anti-capitalistic Front  

III [URL="http://mises.org/etexts/mises/anticap/section3.asp"]LITERATURE UNDER CAPITALISM [/URL]
1. The Market for Literary Products
2. Success on the Book Market
3. Remarks about the Detective Stories
4. Freedom of the Press
5. The Bigotry of the Literati
6. The “Social” Novels and Plays
IV [URL="http://mises.org/etexts/mises/anticap/section4.asp"]THE NONECONOMIC OBJECTIONS TO CAPITALISM[/URL]
1. The Argument of Happiness
2. Materialism
3. Injustice
4. The “Bourgeois Prejudice” for Liberty
5. Liberty and Western Civilization V [URL="http://mises.org/etexts/mises/anticap/section5.asp"]"ANTICOMMUNISM" VERSUS CAPITALISM[/URL]
[/QUOTE]

[url]http://mises.org/etexts/mises/anticap.asp[/url]

Re: Marx was right

Thanks for the read. Here is a short clip, watch it and you will understand a lot more about the crisis

[video=youtube;qOP2V_np2c0]http://www.youtube.com/watch?v=qOP2V_np2c0[/video]

Re: Marx was right

Ha yeah, I've seen that before. Well illustrated, but I cannot agree with it in its entirety.

Re: Marx was right

what exactly do you not agree with? :)