Summary
Nearly a century and half ago, a famous German emigre in London wrote: "Owners of capital will stimulate the working class to buy more and more expensive goods, houses and technology, 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 nationalised." The above extract, from Marx's Das Kapital, explodes Gordon Brown's assertion that no-one could possibly have foreseen the current financial calamity.
R GOODWINSee the full content of this document
Extract
Marx Foresaw Credit Crunch
Stok...
See the full content of this document
Sponsored links
