Economics and China

[kandrathe]

<blather> But I'm done here for now.</blather>

If only it were true.

You are good with twisting the facts around and parroting the same capitalist propaganda that buffoons like Friedman and Hayek spewed, that people accept(ed) as truth for their own enslavement - this much I will merit you with.

Um, well, I hardly think I deserve to be compared to *real* economists who have both won the Nobel prize in economics. I think your disparaging them is more a reflection on your prejudices, rather than their competency within the field. I only propose that if there were more merit to the ideology you espouse it would be more broadly embraced.

But in fact whether it be economists or philosophers, as it is widely understood throughout the world, they have found both prescience and failures in Marx.

You can read the above in full, but it sums up my view in detail.

But the fact remains that on everything that mattered most to Marx himself, he was wrong. The real power he claimed for his system was predictive, and his main predictions are hopeless failures. Concerning the outlook for capitalism, one can always argue that he was wrong only in his timing: in the end, when capitalism has run its course, he will be proved right. Put in such a form, this argument, like many other apologies for Marx, has the advantage of being impossible to falsify. But that does not make it plausible. The trouble is, it leaves out class. This is a wise omission, because class is an idea which has become blurred to the point of meaninglessness. Class antagonism, though, is indispensable to the Marxist world-view. Without it, even if capitalism succumbs to stagnation or decline, the mechanism for its overthrow is missing.