econ434notes15e

econ434notes15e - workers-New markets(20 o Lenin o...

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Marx Communist manifesto: - Talked about capitalism replacing the idea of nationhood, increasing relevance of national order - Commodity production will occur where it occurs most cheaply: anywhere in the world. - Intellectual copyright: Ideas will be transferred into information that will be available anywhere Places where Marx was right (Maybe?): - Globalization (100%) - Industrial concentration increases (90%) - Wealth and income becomes increasingly concentrated (80%) o Salaries of top executives continue to outpace the increases of waged
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Unformatted text preview: workers-New markets (20%) o Lenin o Hobson-Class Interest (70%) Places where Marx was (probably) wrong:-Labor theory of value-Dynamic instability o Don’t have large companies destroying small companies-Immiseration o Thought that lower class would remain miserable, not be able to better their lives or save. However, we see: o Increasing wealth among people at the bottom, not leading a razor’s edge existence-Dictatorship of proletariats to communism, etc o What happened? Stalin....
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