The Communist Manifesto Turns 160

[The Blue Flower]

From The Nation
(http://www.thenation.com/doc/20081013/ehrenreich)

This year marks the 160th anniversary of The Communist Manifesto and capitalism--a k a "free enterprise"--seems willing to observe the occasion by dropping dead. On Monday night, some pundits were warning that the ATMs might run dry and hinting that the only safe investment left is canned beans. Apocalypse or extortion? No one seems to know, though the populist part of the populace has been leaning toward the latter. An e-mail whipping around the web this morning has the subject line "Sign on Wall Street yesterday," and shows a hand-lettered cardboard sign saying, "JUMP! You Fuckers!"

This year marks the 160th anniversary of The Communist Manifesto and capitalism--a k a "free enterprise"--seems willing to observe the occasion by dropping dead. On Monday night, some pundits were warning that the ATMs might run dry and hinting that the only safe investment left is canned beans. Apocalypse or extortion? No one seems to know, though the populist part of the populace has been leaning toward the latter. An e-mail whipping around the web this morning has the subject line "Sign on Wall Street yesterday," and shows a hand-lettered cardboard sign saying, "JUMP! You Fuckers!"

This year marks the 160th anniversary of The Communist Manifesto and capitalism--a k a "free enterprise"--seems willing to observe the occasion by dropping dead. On Monday night, some pundits were warning that the ATMs might run dry and hinting that the only safe investment left is canned beans. Apocalypse or extortion? No one seems to know, though the populist part of the populace has been leaning toward the latter. An e-mail whipping around the web this morning has the subject line "Sign on Wall Street yesterday," and shows a hand-lettered cardboard sign saying, "JUMP! You Fuckers!"

more at link

[Captain Hilts]

1. I actually prefer to read Engels. Sometimes he writes with humor.

Shallow, I know.

[Alcibiades]

2. Marx and Engels wrote the Manifesto together

Though I do agree with you. Ever read volume III of Capital? The last chapters are a laugh riot, though you have to wade through to get to the funny bits (though Engels is there in abundance in the footnotes, quite naturally).

"(the advent of public companies is) This is the abolition of the capitalist mode of production within the capitalist mode of production itself, and hence a self-dissolving contradiction, which prima facie represents a mere phase of transition to a new form of production. It manifests itself as such a contradiction in its effects. It establishes a monopoly in certain spheres and thereby requires state interference. It reproduces a new financial aristocracy, a new variety of parasites in the shape of promoters, speculators and simply nominal directors; a whole system of swindling and cheating by means of corporation promotion, stock issuance, and stock speculation. It is private production without the control of private property."

Marx detailed many different sorts of potential meltdowns for capitalism, but all of them involved credit and the increasing distance between the process of capital accumulation and meaningful economic production.