The Sunday Times of India carries a nice article by Swaminathan Anklesaria Aiyar ” Capitalism is reinventing itself.” He points out how the current dooms day forecasts about capitalism being in its last throes are nothing new.
For almost 150 years, experts have been writing its obituary:
Karl Marx claimed capitalism was dying in the 1850s.
Rosa Luxemburg – 1913 The Accumulation of Private Capital pronounced “..imperialism is ..prolonging…capitalism. It is also a sure means of bringing it to a swift conslusion.”
Lenin in 1916 Imperialism:the last stage of capitalism.
Ferdinand Fried, 1930, The End of Capitalism.
Karl Mannheim in 1940, Man and Society in an Age of Reconstruction said democracy could only survive without capitalism.
AJP Taylor declared on the BBC in 1955 nobody believes in the American way of life.
The Indian communists have for the last 60 years been declaring capitalism is now in its last death throes.
Isn’t it strange then that the only death throes we have witnessed in our lifetimes have been that of the fountainhead of communism? I am now firmly of the opinion that a sure fire way of losing money is to listen to the left. I’m happy to manage my own affairs tyvm and let them keep redistributing their poverty.
Have a great week end all of you. Am off for a break till Thursday.
Dara