[Bosnjak]

Marx predicted that Capitalism will have often Crisis, and the sole way out of a such a huge fundamental crisis of Capitalism is A huge War.

Do not forget the last Crisis of such an dimension, the great depression started 1929 and ended in World War 2.


It is time for (R)evolution, there is no better environent for an political change then a crisis.

Ice-Land would be intressting in Europe.

[liberty]

Do not forget the last Crisis of such an dimension,

No, the crisis was created by Hoover intervening in the economy. Then Roosevelt expanded all of Hoover's programs. America also had a depression in 1920's, but instead of intervening with government we cut taxes and spending. The depression in 1920 only lasted for about a year (if that). It was so short of a depression hardly anyone knows about it today.

the great depression started 1929 and ended in World War 2

It wasn't WW2 that eneded the depression, we had a large manufacturing base that lead us to produce our way out of the depression. The depression still lasted after WWII was over. Another element that saved us was decreasing the size of our military industrial complex after the war was over, forcing solders to get jobs in the private sector. Now we can tax them and stop paying their checks with tax dollars. This also put an end to the returning solders spending over seas.

The Great Depression lasted until 1949! Four years after the war was over.

Marx predicted that Capitalism will have often Crisis

Did Marx predict Hong Kong?

[Vera Politica]

No, the crisis was created by Hoover intervening in the economy. Then Roosevelt expanded all of Hoover's programs. America also had a depression in 1920's, but instead of intervening with government we cut taxes and spending. The depression in 1920 only lasted for about a year (if that). It was so short of a depression hardly anyone knows about it today.

As much as I like Peter Schiff, he isn't a good economist and is an even worse historian. He is a short-term trend forcaster and financier - and in this light he is a very intelligent man.
Many credible scholars of Roosevelt often cite his policies as the essential measures to proect the manufacturing base of the United States so that it would be able to physically produce itself out of the cyclical depression during the second world war.

The Great Depression lasted until 1949! Four years after the war was over.

Source?

Did Marx predict Hong Kong?

Did Adam Smith? Jevons, Bastiat or Constant? Any other of the figures in early classical political economy? Compare apples to apples.

[Red Star]

Red Star Note: You know what? I have given enough warnings about irrelevant one-liners in most threads, plus people who have been here for ages should know better. One-line posts which have absolutely nothing to add to the discussion will be deleted.

[liberty]

Vera I did not learn all of my information from Peter Schiff. Try Henry Hazlit (and others), he lived through the depression.

Many credible scholars of Roosevelt often cite his policies as the essential measures to proect the manufacturing base of the United States so that it would be able to physically produce itself out of the cyclical depression during the second world war.

Please explain how all the government programs from Roosevelt saved us. Remember these programs are failing today. These so called "credible scholars" said in 1999 or even 2007 that the stockmarket was going to be bullish.
I'm sorry but, I don't think price fixing, plowing crops under, and wasteful spending saved us.

Did Adam Smith? Jevons, Bastiat or Constant? Any other of the figures in early classical political economy? Compare apples to apples.

Forgive me if that came across wrong. Marx said that capitalism will often have crisis. My point is simply that laissez faire capitalism won't often have a crisis.

[Vera Politica]

Please explain how all the government programs from Roosevelt saved us. Remember these programs are failing today. These so called "credible scholars" also believed that 1999 or even 2007 was bullish.

I'm sorry but, I don't think price fixing, plowing crops under, and wasteful spending saved us.

In no way was I giving credence to any long-term viability of the reforms during the Great Depression. All I meant to say was that Roosevelt's policies had the short-term benefit of making sure that there was still a viable manufacturing base going into the World War. Had laissez-faire economics dominated that period, the United States would have collapsed in itself, its physical economy would have been destroyed (of course it wasn't pure laissez faire that started the depression either, so maybe the point is moot).

Forgive me if that came across wrong. Marx said that capitalism will often have crisis. My point is simply that laissez faire capitalism won't often have a crisis.

Marx's analysis applied precisely to laissez-faire. Post-Marxian economics applied to Keynesianism and other sorts of reformist rubbish. Capitalism, in its 'pure form' is even more susceptible to general crises. It is only through massive state intervention both domestically and internationally that kept the burgeoning proletariat from become revolutionary. Think of the massive state investments that went into the subsidies of suburbia and the middle class, through lax lending standards which are, still today, financed by productive centres overseas, or the massive superhighways or public transit within cities to ensure the relaxation of urban density. etc, ect

[liberty]

All I meant to say was that Roosevelt's policies had the short-term benefit of making sure that there was still a viable manufacturing base going into the World War.

We had a viable manufacturing base before the great depression. The very reason why the depression lasted so long was because of government intervention. Depression's last for a couple of years maxim in laissez faire. This has been proven with the depression of 1920 and others. Instead of intervening the government cut taxes and spending. The depression of 1920 only lasted a year if that.

Had laissez-faire economics dominated that period, the United States would have collapsed in itself

Excuse me, can you please prove this.

of course it wasn't pure laissez faire that started the depression eithe

laissez faire is without intervention. Anything that the central bank and government does to intervene into the economy isn't laissez faire.

You can't defy the laws of economics, just as you can't defy gravity.

It is only through massive state intervention both domestically and internationally that kept the burgeoning proletariat from become revolutionary.

This has nothing to do with a laissez faire economy.

through lax lending standards which are, still today, financed by productive centres overseas,

Lax lending standards created this crisis. China is funding all of our excessive spending which is causing diplomatic problems.

or the massive superhighways or public transit within cities to ensure the relaxation of urban density. etc, ect

This stuff is great when we can afford it. The reason why we had a manufacturing base is because we had a much smaller bureaucracy, less taxes, a gold standard , and people were saving money. When people save money it gives them an opportunity to create capital. Instead of just grinding from paycheck to paycheck.

[liberty]

Look at our gross debt as % of GDP, in 1940 it was 52%, in 1950, 94.1%. Looks like some time during the war it was 120%

http://en.wikipedia.org/wiki/United_States_public_debt

Another example that shows war hurts the economy.

[redcarpet]

I'm not surprised about this. Why should people get paid (very big!)bonuses for a few days 'work' anyway?

[liberty]

redcarpet nothing you said sounds relevant to my post, please elaborate.