Whaaaa?

[RGacky3]

http://www.bloomberg.com/news/2011-08-29/give-marx-a-chance-to-save-the-world-economy-commentary-by-george-magnus.html

There have been a couple of arcticles in the mainstream buisiness press kind of stubbornly praising marx (by no means endorcing socialism), but saying that maybe pay more attention to him.

[Islamosocialist]

Fantastic. :)

[Islamosocialist]

They're letting Slavic women talk about politics in interviews now too:

http://www.stylist.co.uk/people/interview-mila-kunis

How do you feel about the US debt crisis [at the time of interview, Barack Obama had signed a deal with the Republicans to end debt deadlock]?

I love Barack Obama, I voted for him and I will forever be proud of my vote, so I can’t say anything bad against him – other than I think America is in a very temperamental state, and the decision that was made and the compromises made mean, in my opinion, that people are going to pay for a very long time. There is no revenue that’s going to come from these compromises. None. We are no longer going to be the leading power, at all; if China takes their money away from the States we are done. Done. I know that he [Obama] tried. I know because you keep reading these reports of him trying to compromise with the Tea Party and the Republican Party and trying to come to a 50/50 agreement. I don’t think it was one. I feel the Democratic Party compromised everything and the Republican Party compromised pretty much nothing. It’s pretty terrifying how much power the Tea Party seems to have in the US – we’re watching Sarah Palin with open mouths. Honestly, I love politics, I do. And maybe they know something I don’t know, and that’s the only thing I can hope for. But, unless you show me some revenue that’s going to be made, we’re about to become a third-world country. OK I’m being dramatic, but we sure as hell are losing a lot of power. And when you lose financial power and the dollar drops that power is gone.

[RichardAWilson]

You'll notice the "solutions" are Keynesian. Marx's ideas were used in Keynes's General Theory (Including the Paradox of Thrift and Theories on Overproduction and Aggregate Demand). All this piece can be taken as meaning is an admission that the Anglo-Saxon Model (I.e. Reagan and Thatcher) has failed and we need to begin looking elsewhere for answers.

Washington and the super-rich have long discarded traditional Keynesian Fiscal Policy in favor of Keynesian Monetary Policy. From 1982 through 2008, the main method of "dealing with a recession" was to prime the printing presses and ax short-term interest rates. The problem is that low interest rates are no longer producing the same bang because consumers are too indebted and you have to have a job and collateral to borrow money. (Housing values are down, so they don't even have the collateral).

This economic crisis has led some of the "thinking gurus" to return to Keynesian Fiscal Policy.

[Drosophila]

Once capitalism finally collapses on itself then I think the world will take a second look at socialism.

[Nothing Human Is Alien]

None of his "solutions" have anything to do with Marx.

[RichardAWilson]

We're facing what's called a liquidity-trap.

[RichardAWilson]

For those of you interested in macroeconomics:

Milton Friedman's suggestion was to begin dropping new cash from helicopters over Vegas and Hollywood =) Google the "Friedman Helicopter."

[RGacky3]

None of his "solutions" have anything to do with Marx.


Of coarse not, but most of Marx was analysis of problems not solutions, but I've read arcticles on Marx in the financial times, the guardian and some others, in many places Marx is coming back.

[TheCultofAbeLincoln]

What truly worries me is that the American psyche will be much more willing to accept fascism than socialism. As in, when the economy collapses on itself again, the kind of talk that will be popular won't be "we need to address the core issues that led to the boom and bust cycles in our economy."

It'll be "The American people are a great people who have been led astray from the path of leading the world, and endorsing our greatness before the world, by the idiotic clowns trying to enforce socialism on us."