Borrow222:



You are a Luna......ic

Borrow222:



You are a Luna......ic

Borrow222:



You are a Luna......ic

Borrow222:



You are a Luna......ic

Schooljob1:
.Today, half the workers in the great industrial countries are unemployed and the enormous increase of exploitation does not compensate for the smaller number of workers employed; and still there is no other way for capitalism but continuous attacks on the workers. The general, absolute and permanent pauperisation of the workers has become an absolute necessity to the existence of capitalist society. Thus, according to Marx, the final and most important consequence of capitalist accumulation and the final reason for every real crisis is the poverty and the misery of the broad masses, in contradiction to the essential driving force of capitalism to develop the productive forces to such an extent that only the absolute consumption possibilities of society be its barrier. Under such conditions, the bourgeoisie can rule no longer, since, as the “Communist Manifesto” pointed out, “it is unfit to rule because it is incompetent to assure an existence to its slaves within his slavery, because it cannot help letting him sink into such a state that it has to feed him, instead of being fed by him”.

The analysis of capitalist accumulation ends, as Marx said in a letter to Engels: “In the class struggle as a finale in which is found the solution of the whole smear!” In the phase of accumulation where the further existence of the system is only based on the absolute pauperisation of the workers, the class struggle is transformed. From a struggle over wages, hours and working conditions or relief, it becomes, even as it fights for those things, a struggle for the overthrow of the capitalist system of production – a struggle for proletarian revolution

Paul Mattick

Freestar:

There is therefore no contradiction in seeing both a crisis-mitigating and a crisis-sharpening factor in governmental fiscal policy. The additional production made possible by deficit financing does appear as additional demand, but as demand unaccompanied by a corresponding increase in total profits. The additional demand consists of money injected into the economy by the state in the form of governmental credit. It nonetheless functions immediately as an increase in demand that stimulates the economy as a whole and can become the point of departure for a new prosperity if insuperable barriers do not stand in the way of such a prosperity. But only under such circumstances can the unprofitable expansion of production smooth the way for a profitable expansion without even then losing its capitalistically unproductive character. It is the capitalistically unproductive nature of state-induced production that sets definite limits to its utilization in capitalist society, limits that are reached more quickly the longer capital remains in crisis.

In all circumstances the production it induces is due not to the state itself but to its creditworthiness. It is private capital that must foot the bill and spend the money to increase demand. Thus it is private capital itself that finances the deficit, and it is ready to do so precisely because it is unable to operate or even think in terms of society as a whole. The money placed at the government’s disposal yields interest, and it is this interest that gives some number of capitalists sufficient reason to lend their money to the state. Once this process is set in motion, it leads to the imposition of a growing tax burden on the capital still producing at a profit, which is thereby drawn into the financing of the deficit. In this way the total capital, both money capital and productive capital, becomes bound up with unprofitable production.. The part of capital that (as we saw above) makes a profit even during the crisis, without transforming it into additional capital, sees its profitability cut even further as a result of the growth of state production, until in the course of time the unwillingness to invest becomes the objective impossibility to do so. In this sense, in the absence of a spontaneous reprise of profitable accumulation, state-induced production will change from a result of a crisis into a cause of its further aggravation

P. Mattick.

nairalanda1:


SO, because I support subsidy removal, therefore I am a mufu

If I called you a mufu, you would be angry.

Oga, fuel costs N1100 to import, and we sell that same liter at N500-700...and government takes money that could have been used for things like health and education to pay for that subsidy, and takes more loans to cover the resulting deficit.

And we have been doing this for years, and since tinubu took over

And pointing that out means I am a mufu.


Oga, grow up.

Scamburster:

You should be the one to grow up with your explanation.