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Wednesday, October 1, 2008

Marx's Comeback

I enjoyed this op-ed by Martin Masse. Here is an excerpt:
In his Communist Manifesto, published in 1848, Karl Marx proposed 10 measures to be implemented after the proletariat takes power, with the aim of centralizing all instruments of production in the hands of the state. Proposal Number Five was to bring about the “centralization of credit in the banks of the state, by means of a national bank with state capital and an exclusive monopoly.”If he were to rise from the dead today, Marx might be delighted to discover that most economists and financial commentators, including many who claim to favour the free market, agree with him.

Also, the Ayn Rand Center for Individual Rights has a page up on the financial crisis here.

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