Verelendung

[革命者]

Is it happening? Why (not)?

I am thinking of the eradication of solidarity by the creation of a total blame and self-blame society, the creation of public sectors with massive leaks to the private sector, the unchecked growth and unethical practices of the financial services sector and the massive tax evasions by big multinational corporations.

I'd like to know what you think.


Scotty

[革命者]

Then there is the legalised enslavement of people through economies based on debt (unescapeable slavery). Any thoughts on the matter? Will it lead to an uprising of the proletariat/enslaved?

[革命者]

I don't say Marx was completely right, but the collapse of the financial services industry can prove him right about the impoverishment of workers up to a point where they will undo their shackles (imposed now more than anything by debt).


Thus, the cost of production of simple labour-power amounts to the cost of the existence and propagation of the worker. (Marx, 1849)
Marx was partially wrong here, since many workers are now paid below his wage minimum; they are made debtors of the financial services industry by their credit, to keep wages low.

But what will happen if no interests on loans can any longer be paid back? And I am not talking about just consumers (that we have seen), but also the governments of the world.

Of course taxes will increase to fight hyperinflation, but what if that stops to yield enough to support the governments?

And in what time frame from now will this all happen?

[Q]

Is "verelendung" happening? Yes and no.

Marx explained that there was indeed a tendency within capitalism have a mere minimum of wages, but it was just a tendency not the "iron law" Lassalle made it. There are other tendencies that have an impact too, most notably I think that of workers struggle.

The central question "who owns the fruits of the productivity of the working class?" that drives the class struggle is in constant flux and cannot be mechanically determined by just one tendency towards the minimum.

[革命者]

The central question "who owns the fruits of the productivity of the working class?" that drives the class struggle is in constant flux and cannot be mechanically determined by just one tendency towards the minimum.I don't understand exactly what you mean to say here; sorry. I hope to address your points. I think market capitalism is pretty mechanic. If everyone follows market logic, people like Greenspan who base their policies on Rands objectvism, and if every organisations operating on the market following Nash's game theory, the market is in a pretty predictable, "mechanic" state of equilibrium. And the perception now of the situation might be still quite clouded by self-blame, but when you see financial institutions robbing you of all you possesions and you see it all around you, this will (and has already to some extent) change.

[革命者]

Is revolution inevitable?