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View Diary: Marx for Dummies 1 (193 comments)

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  •  Globalization has significantly (4+ / 0-)

    changed everything.  It used to be that these things were confined in the borders of nation-states.  Within that framework, Marx's predictions were pretty accurate.  With the erosion of national borders capitalists can now use foreign labor to threaten local labor, compelling workers to make concessions in wages and benefits, and you can find new markets in other parts of the world when local workers no longer have the wealth to buy commodities in the numbers required to perpetuate growth.  

    The same destiny happens, however, when these strategies to increase growth are used.  We're currently seeing a boom in China.  This will lead Chinese workers to call for better wages and benefits so they can buy more of what they're producing.  With time, though, you'll see the same decline as those increases in standards of living cut into the ability of Chinese corporations to continue to grow.  

    •  This is a key point. (2+ / 0-)
      Recommended by:
      Jeffersonian Democrat, JosephK74

      Marx didn't envision the Globalization of Capitalism that we have today. He believed that the competition between Capitalist nation states for markets would inevitably lead to wars. Marx did not believe that Capitalism could transcend the Nation State.

      Nothing human is alien to me.

      by WB Reeves on Tue Apr 16, 2013 at 02:24:08 AM PDT

      [ Parent ]

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