Karl Marx, born on this day in 1818, was a foundational political theorist and journalist associated with the philosophy of Marxism.
Among Marx's best-known texts are the "The Communist Manifesto" and the three-volume "Das Kapital", in which he set out to define and explain the behavior of the capitalist mode of production.
Marx's political and philosophical thought have had enormous influence on subsequent intellectual, economic and political history, and his name has been used as an adjective, a noun, and a school of social theory.
Marx's critical theories about society, economics and politics - collectively understood as Marxism - hold that human societies develop through class conflict. In capitalism, this manifests itself in the conflict between the ruling classes (known as the bourgeoisie) that control the means of production, and the working classes (known as the proletariat) that enable these means by selling their labor power in return for wages.
Employing a critical approach known as historical materialism, Marx concluded that, like previous socio-economic systems, capitalism produced internal tensions which would lead to its self-destruction and replacement by a new system known as socialism.
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Asking Reddit βwould inflation would be a bad thing if we got pay rises to match it?β just to feel something
someone's friends get first dibs on newly printed money
unless it's perfectly distributed across the world then someone's work is getting diluted.
2.5) if it's perfectly distributed then why print?
they did that for decades and we ended up here
makes BRICS look real real nice
less confidence in fiat is bullish for Bitcoin
For distribution, it could be used to fund government services. Basically inflation from money printing is a wealth tax. The problem with Quantitative Easing is that it was a tax on all wealth used to protect banks and major investors, so a transfer from the bottom to the top, but it could equally be a transfer from the top to the bottom if the money printer went into general revenue.
For sure it could. If you don't want or need your productive forces dictated by the market, and lord almighty I don't want to live and die at the behest of the wealth concentrating algorithm, then you don't need the natural flow of money. You can decide that housing is... le good! It would be a tool for a vanguard party to make sure that the resources are being used.
There's just such a stark difference between the libertarian ideal where nobody fights war because you can't afford to and the historical reality of needing all hands on deck when capital is breathing down your neck.
I admit I'm interested in and entertain the idea of currency independent of government control. If the dollar were replaced with Bitcoin and America no longer we're capable of chauvinist control over other countries with it what would the world look like? When banks couldn't do fractional reserves, access to dollars isn't a consideration in poor countries, nobody needed to be trusted with your information, and nobody could seize your assets. Would it be another tool that preserves the status quo because wealth would concentrate again because the means of production are private or would the frivolous and cynical use of the one earth be curbed? Would fascist regimes run out of steam or would they use the same force on the same people? In essence, would independent currency be a relief while waiting for a vanguard party to change the operating system?
Hellllllllllllll yeah