The capitalist economic crisis

Capitalist Economic Crisis

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Dave Riley made this slide show presentation of the ideas of Marx and their direct relevance to the current financial meltdown.

Ironic isn’t it? Here I am bashing together some DIY Marxist homilies to describe the Wall Street debacle and the would be whatevers are wondering that maybe there’s more to it than what’s being offered as an explanation in the local media’s finance commentaries.

That suggests to me that Marxism’s economic analysis — a rather basic element I’d think of the methodology — is suddenly of potent relevance to the here and now. How else can you explain this massive contradiction of financial collapse met with a gross and very public attempt to bail out the big end of town gratis. No strings. No receipts. Take the money (all $700 billion of it)…please!

No wonder people are both nervous and scratching their heads.