capitalism about to self destruct, page-17

AtLunch
Tis a long time since those Marxian days, but from memory, the fundamental seeds were:
1. The need for companies (the owners of the means of production) to continually grow and consume competing companies otherwise they themselves would be consumed ... a sort of survival of the economically fittest?
2. The need to reduce labour costs through the mechanisation of production.

The consequence ... ever reducing ownership of the means of production in conjunction with reducing demand for production output because of increasing unemployment.

Imo we have been witnessing this in the western industrial nations for some time, with mechanisation being replaced by the relocation of the means of production to developing nations because labour there has been cheaper than mechanisation. In the WINs, production has been replaced by service industries but service industries don't survive through patronage of those employed in them ... there must be production otherwise there is growing debt, and we are seeing this across the board.

It is noticable, however, especially in the past few months, that labour in these countries is now becoming less cheap ... and the where to from this point is far too big a question for my brain.

And you said that "free markets just need to be regulated more" ... at what point does regulation remove all freedom? lol

Just a final thought. I have an underlying conviction that every system will self destruct if it does not meet that simple maxim of "to each according to their needs, and from each according to their abilities" ... no, I'm not the 'red under your bed', but I do rest content in knowing that this will never be achieved and therefore there will be a continuing process of self destructing systems.

Regards
marz