By Anonymous John @AnonOpGreece The well-known critic of capitalism, Karl Marx amongst other things, was sure that capitalism has the tendency to self -destruct. What he meant was that there comes a point when accumulated profits cannot be re-lent to p …

Walton Pantland

By Anonymous John

@AnonOpGreece

The well-known critic of capitalism, Karl Marx amongst other things, was sure that capitalism has the tendency to self -destruct. What he meant was that there comes a point when accumulated profits cannot be re-lent to people through banks to sustain purchasing demand because people are getting more in debt, and banks find out that they cannot pay them back.

So loans stop, people stop buying goods, business cannot sell their goods, they fire people, and unemployed people cannot buy goods because they have no money and so on.

Please don’t think that this is just the way it is.

It’s important to notice that the years that business were doing well and making profits, a tiny group of people – mostly the share holders – got their hands on the profits and put it in their bank accounts.

So what’s wrong with that?

But every time a business or a bank stops making profits – even in the first year it occurs – it automatically reacts in the following way: Lay offs. What about all of  profits of the previous years? Shouldn’t the shareholders help to support their business, with money they earned the previous years?

Why is this automatic notion that what a banker or businessman earns is their own but what he loses is for others to pay?  The workers for that matter.

The plan is simple and works perfectly.

Keep all the money, make the majority of people pay. And it’s even legit. It’s called  Capitalism and it’s thought of as the natural evolution of things.

A system that you should just take it as it is, powerful, unjust but next to Newton’s law of gravity.

What is it left for us?

First: Question capitalism.

…more next week.


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Walton Pantland

South African trade unionist living in Glasgow. Loves whisky, wine, running and the great outdoors. Walton did an MA in Industrial Relations at Ruskin, Oxford, and is interested in how trade unions use new technology to organise.

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