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Lecture #3 Marxist Economics

Policy@McCombs

CHAPTER

The Falling Rate of Profit, the Misery of the Workers, and the Ever Deepening Periodic Crisis

In society there is no planned apportionment of resources to meet social needs. Each capitalist produces what he chooses and then embarks on a mad search for markets. Chaos reigns, it is the habsian war of all against all. The misery of the workers comes due to their relation to the machines. New machinery causes unemployment. Under capitalism, the machine is the enemy of the worker.

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