Posted 3 years ago on Sept. 12, 2017, 11 a.m. EST by agkaiser
from Fredericksburg, TX
This content is user submitted and not an official statement
The more we knew the less we know. Distortions, distractions and lies grow.
"In keeping with his materialist view of history, Marx expected banking to be subordinated to the needs of industrial capitalism. Equity investment - followed by public ownership of the means of production under socialism - seemed likely to replace the interest-extracting 'usury capital' inherited from antiquity and feudal times: debts mounting up at compound interest in excess of the means to pay, culminating in crises marked by bank runs and property foreclosures.
"But as matters have turned out, the rentier interests mounted a Counter-Enlightenment to undermine the reforms that promised to liberate society from special privilege."