Posted 1 year ago on Oct. 17, 2018, 10:04 a.m. EST by agkaiser
from Fredericksburg, TX
This content is user submitted and not an official statement
"In the end there can be only one." Thus spake The Highlander.
I say: that one will be a banker. Moses knew it too. I think he and Marx were kindred economist/prophets. Moses implied by banning them that usury and rents are destructive. Marx expressed the warning as the danger of fictitious capital and other non productive and parasitic activities in the marketplace.
"... Marx's Theories of Surplus Value(German Mehrwert), his history of classical political economy, poked fun at David Ricardo's warning of economic Armageddon if economies let landlords siphon off of all industrial profits to pay land rent. Profits and hence capital investment would grind to a halt. But as matters have turned out, Ricardo's rentier Armageddon is being created by his own banking class. Corporate profits are being devoured by interest payments for corporate takeover debts and related financial charges to reward bondholders and raiders, and by financial engineering using stock buybacks and higher dividend payouts to create 'capital' gains at the expense of tangible capital formation. ..."