Comments on: Marx Gets the Last Laugh: Is Capitalism Failing?

By: Cousin

Cousin — Fri, 26 Sep 2008 02:58:43 +0000

Clearly, bartering is the answer.

By: rjones2818

rjones2818 — Fri, 26 Sep 2008 01:27:33 +0000

Here’s a link to the Internet Marxist archives, if you’re interested: http://www.marxists.org/

By: dollyann

dollyann — Thu, 25 Sep 2008 20:44:37 +0000

I know very little about Marxism or socialism, unfortunately. And I’m also woefully ignorant about how our economy works. I hadn’t heard of Fannie Mae or Freddie Mac until last week, I think. On the other hand, I don’t think that captialism works well in a society where racism, sexism, etc. are prevalent. It’s too easy for the subjugated to lose money and thereby lose power, voice, influence.

In other news, I recognize the symbols “shi” (to be) and “ren” (person) on your Marx picture. Hooray for Chinese language class! :)

By: Dollface

Dollface — Thu, 25 Sep 2008 18:45:46 +0000

@ Nick — Thanks for the link, I’ll check it out. Guess my options are getter narrower.

However, if you read the whole article, you’ll notice that it refers to a “renewed wave of international financial unrest”…in other words, the problems Denmark and other European countries are facing are related to the United States’ problems. Also, according to the article:

“Denmark has enjoyed a blistering credit boom over recent years, fuelled by membership of Europe’s Exchange Rate Mechanism which fixed the Dranish krona to the euro.

The policy caused the country to import the monetary policy of the ECB at a time when it was far too loose for Danish needs. Interest rates were just 2pc until the end of 2005. The result was to push household debt to 260pc of GDP, the highest level in the world. This compares to 135pc in America.

Denmark’s housing bubble is now popping with the same destructive effect as bubbles in the US, Britain, Ireland, Spain, and indeed China.

So, as you can see, Denmark’s economic woes are not due necessarily to its social democratic structure but rather to outside forces such as the European Union that have imposed certain regulations and institutions in Denmark such as bringing in the Euro.

By: Nick

Nick — Thu, 25 Sep 2008 17:48:30 +0000

“Denmark is in full-fledged recession and has already suffered two embarrasing bank failures this summer as the bubble burst in commercial real estate.”
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3075180/EU-refuses-bail-out-package-despite-crisis-fears.html