The Real Great Depression (Panic of 1873)

[Anonymous]

[quote=arraya]Owners of capital will stimulate the working class to buy more
and more expensive goods, houses and technology, pushing them
to take more and more expensive credits, until their debt
becomes unbearable. The unpaid debt will lead to bankruptcy of
the banks, which will have to be nationalized, and the State
will have to take the road which will eventually lead to
Communism.”
Karl Marx 1867[/quote]

That quote is cool, but suspect…

http://meganmcardle.theatlantic.com/archives/2009/01/faux_marx.php

http://imgs.xkcd.com/comics/duty_calls.png

[Arraya]

[quote=DriveByLurker][quote=arraya]Owners of capital will stimulate the working class to buy more
and more expensive goods, houses and technology, pushing them
to take more and more expensive credits, until their debt
becomes unbearable. The unpaid debt will lead to bankruptcy of
the banks, which will have to be nationalized, and the State
will have to take the road which will eventually lead to
Communism.”
Karl Marx 1867[/quote]

That quote is cool, but suspect…

http://meganmcardle.theatlantic.com/archives/2009/01/faux_marx.php

http://imgs.xkcd.com/comics/duty_calls.png

[/quote]

Huh, interesting. It does seem a little made up in retrospect. That comic is hilarious!

[Arraya]

[quote=DriveByLurker][quote=arraya]Owners of capital will stimulate the working class to buy more
and more expensive goods, houses and technology, pushing them
to take more and more expensive credits, until their debt
becomes unbearable. The unpaid debt will lead to bankruptcy of
the banks, which will have to be nationalized, and the State
will have to take the road which will eventually lead to
Communism.”
Karl Marx 1867[/quote]

That quote is cool, but suspect…

http://meganmcardle.theatlantic.com/archives/2009/01/faux_marx.php

http://imgs.xkcd.com/comics/duty_calls.png

[/quote]

Huh, interesting. It does seem a little made up in retrospect. That comic is hilarious!

[Arraya]

[quote=DriveByLurker][quote=arraya]Owners of capital will stimulate the working class to buy more
and more expensive goods, houses and technology, pushing them
to take more and more expensive credits, until their debt
becomes unbearable. The unpaid debt will lead to bankruptcy of
the banks, which will have to be nationalized, and the State
will have to take the road which will eventually lead to
Communism.”
Karl Marx 1867[/quote]

That quote is cool, but suspect…

http://meganmcardle.theatlantic.com/archives/2009/01/faux_marx.php

http://imgs.xkcd.com/comics/duty_calls.png

[/quote]

Huh, interesting. It does seem a little made up in retrospect. That comic is hilarious!

[Arraya]

[quote=DriveByLurker][quote=arraya]Owners of capital will stimulate the working class to buy more
and more expensive goods, houses and technology, pushing them
to take more and more expensive credits, until their debt
becomes unbearable. The unpaid debt will lead to bankruptcy of
the banks, which will have to be nationalized, and the State
will have to take the road which will eventually lead to
Communism.”
Karl Marx 1867[/quote]

That quote is cool, but suspect…

http://meganmcardle.theatlantic.com/archives/2009/01/faux_marx.php

http://imgs.xkcd.com/comics/duty_calls.png

[/quote]

Huh, interesting. It does seem a little made up in retrospect. That comic is hilarious!

[Arraya]

[quote=DriveByLurker][quote=arraya]Owners of capital will stimulate the working class to buy more
and more expensive goods, houses and technology, pushing them
to take more and more expensive credits, until their debt
becomes unbearable. The unpaid debt will lead to bankruptcy of
the banks, which will have to be nationalized, and the State
will have to take the road which will eventually lead to
Communism.”
Karl Marx 1867[/quote]

That quote is cool, but suspect…

http://meganmcardle.theatlantic.com/archives/2009/01/faux_marx.php

http://imgs.xkcd.com/comics/duty_calls.png

[/quote]

Huh, interesting. It does seem a little made up in retrospect. That comic is hilarious!

[Aecetia]

A Tale of Two Depressions

This is an update of the authors’ 4 June and 6 April 2009 columns comparing today’s global crisis to the Great Depression. World industrial production, trade, and stock markets are now showing signs of recovery. Still – today’s crisis remains dramatic by the standards of the Great Depression.

http://www.voxeu.org/index.php?q=node/3421

[Aecetia]

A Tale of Two Depressions

This is an update of the authors’ 4 June and 6 April 2009 columns comparing today’s global crisis to the Great Depression. World industrial production, trade, and stock markets are now showing signs of recovery. Still – today’s crisis remains dramatic by the standards of the Great Depression.

http://www.voxeu.org/index.php?q=node/3421

[Aecetia]

A Tale of Two Depressions

This is an update of the authors’ 4 June and 6 April 2009 columns comparing today’s global crisis to the Great Depression. World industrial production, trade, and stock markets are now showing signs of recovery. Still – today’s crisis remains dramatic by the standards of the Great Depression.

http://www.voxeu.org/index.php?q=node/3421

[Aecetia]

A Tale of Two Depressions

This is an update of the authors’ 4 June and 6 April 2009 columns comparing today’s global crisis to the Great Depression. World industrial production, trade, and stock markets are now showing signs of recovery. Still – today’s crisis remains dramatic by the standards of the Great Depression.

http://www.voxeu.org/index.php?q=node/3421

[Aecetia]

A Tale of Two Depressions

This is an update of the authors’ 4 June and 6 April 2009 columns comparing today’s global crisis to the Great Depression. World industrial production, trade, and stock markets are now showing signs of recovery. Still – today’s crisis remains dramatic by the standards of the Great Depression.

http://www.voxeu.org/index.php?q=node/3421

[Author]

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