Capitalism



L. Bird pkeets at hotmail.com
Sat Jul 24 00:53:24 CDT 2004


>The nowadays Capitalism is, in some thought schools, named as Monopolic 
>Capitalism of State, considering how intricate is the relationship between 
>the large corporations and the State itself,
including foreign involvement in countries responsible for strategic 
commodities -- like oil, for instance.

Thanks for the input, Tom.  I hadn't heard it called that before.  Actually, 
Marx is underrated as far as economic thought goes.  He made some serious 
errors in predicting the success of communism, but he did accurately predict 
the business cycle and expected this would evenutally produce monopolies 
under a capitalist system, i.e. that the weakest businesses will fail during 
a recession and be bought up by larger ones.

What he says about monopolies is what we don't want to try out.  This is:  
Once the means of production (and thus wealth) are owned by a small group, 
wealth will be forcibly redistributed by revolution.  We certainly don't 
want to forget this is the reason for social security programs within 
Western capitalist economies.

keets

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