San Diego Housing Market News and Analysis
Economic Depressions: Their Cause And Cure
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Submitted by Carl Veritas on October 7, 2008 - 10:38am
In the late eighteenth century Karl Marx saw the recurring boom and bust in the economy with the arrival of the industrial revolution.
He believed, along with economists of the time, that the fault lies deep within the capitalist market economy itself.
And what was needed was massive government intervention
This erroneous belief goes that far back that it is practiced like a religion. You hear and read it daily.
This socialist belief was a cornerstone for the founding of the old Soviet Union and communist China.
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