On the Lilly-gilded Boorish Oaf (LBO) list, CB writes, in part: >> Here it is in a nutshell; Marx literally says "One capitalist always kills many". This is done in a big way in crashes, Depressions. On the contrary, I am very specifically saying that capitalists do _not_uniformly benefit from crises and that "many"_are_ brought down by crises. The expropriation Marx refers to at this point in the text is capitalists expropriating other capitalists. That's why they are termed "expropriators" when he says concerning the socialist revolution stage that "the expropriators ( of other capitalists) are (themselves) expropriated. " This is a central insight of Marx concerning the historical tendency of the capitalist mode of accumulation: it tends to monopoly/centralization of capital and wealth. Lenin's thesis in _Imperialism_ is actually an empirical demonstration of the fulfillment of Marx's prediction in this chapter of _Capital_. Because there are fewer of them it is easier for the working class to expropriate them. As Lenin says in _Imperialism_, monopoly capital, like Goldman Sachs, is a precursor to socialism by monopolizing and centralizing capital and means of production<<
I think that is why wealth has hedge funds, long-term stakes in private equity and Berkshire Hathaway, and diversified bond portfolios. Here comes the Occupy the Expropriation movement, with father CB leading the way. CJ _______________________________________________ Marxism-Thaxis mailing list Marxism-Thaxis@greenhouse.economics.utah.edu To change your options or unsubscribe go to: http://greenhouse.economics.utah.edu/mailman/listinfo/marxism-thaxis
