Since bank nationalization is now all the rage

Author: Rory B. Bellows

Even Allen Greenspan has caught the bug. In that vein, I present a simple thought for the day:

“Owners of capital will stimulate the working class to

buy more and more of expensive goods, houses and

mechanical products, 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 nationalized, and the

State will have to take the road which will eventually

lead to communism”

Karl Marx, Das Kapital, 1867


1 Response to “Since bank nationalization is now all the rage”

  1. 1 Anthony Williams February 24, 2009 at 10:23 am

    That Marx quote is a HOAX. It has been repeatedly debunked on the web. Marx never said anything close to that in Capital, or anywhere else. Tip off – there was no such thing as consumer “technology” in 1867. The scenario imagined in this quote has nothing to do with Marx’s thoughts on the transition from capitalism to socialism, it is a fabricated quote designed to scare people.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s



%d bloggers like this: