SobieskiSavedEurope
Gold Member
- Banned
- #1,781
Your guys (Austrian School of Economics) actually believe that the Great Depression, and the Great Recession were caused by easy credit which causes over-investment, and a boom, and bust cycle.
That means these Austrian Libertarians believe that Capitalist investments are a big problem.
Ludwig von Mises is the only economist to predict the financial panic of 1929 - the only one.
Communists predicted the financial panic of 1929... Back in 1928.
The Great Depression, to 1935
In 1928 the Communist International (Comintern) claimed that capitalism was entering its third stage since the Great War: stage-one being the crises just after the war; stage-two the recovery that followed in the mid-twenties; and stage-three being a crisis created by the old problem of production out-racing consumption. By 1932, rank and file Communists were impressed by the Comintern's analysis. With Karl Marx having predicted the fall of capitalism, they saw capitalism as having entered its final crisis. The failure of capitalism, they believed, would bring the discontented masses falling in behind Communist Party leadership and then they would be able to overthrow the capitalist system – matching economic inevitability with human activity.
The communists have predicted a financial panic every year since the death of Karl Marx. Communism isn't economics. It's the opposite of economics, as is fascism.
Where's your proof?
The labor theory of value is obviously absurd. That's all the proof needed.
Prove this Labor Theory of Value is Fascist?
I don't see Fascists mentioned here.
Labor theory of value - Wikipedia