If you read the Communist Manifesto, you will find that Marx and Engels briefly describe the dynamics and results of capitalism, and they claim it is pretty much to produce a situation similar to that we find we are in now….
Globalisation of a particular culture;
Destruction of national industries;
Inflation of the size of particular cities;
Increasing inequality (particularly in wealth distribution);
Increasing monopolization (ie more and more companies and owned by a small number of other companies);
Making labour an appendage to the machine;
Freeing capital from local regulation;
Turning the State into a managing agent for the benefit of upper corporate class;
Increasing the spread of directives and the control of land and people;
Turning all values into property or monetary exchange.
I don’t know of any other 19th Century figures who score so many accurate predictions. Yes they seem to have been wrong on the inevitability of revolution, but that is one missed prophecy and that was optimism in play.
Nowadays we would probably add to these predictions, the idea that capitalism will destroy its civilization by destroying the ecology in an orgy of mass death and destruction; but we would have to say we have no idea what kind of organisations will follow on from its self destruction.
Tags: 'nature', economics, free markets
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