Learning Macro and Sociology together somewhat sparked some thoughts. According to my Macro Prof., the economy is in the biggest recession ever. Laissez Faire economics wasn't helping the economy during the Great Depression and the government had to get involved to save it. According to the words of Karl Marx, he said that capitalism would eventually crumble because it was a flawed system, that Laissez Faire economics would fail. The government had to step in and pretty much save capitalism from dying, and they are doing the same thing right now. With all of these bailouts... the government is dumping trillions into the market trying to ease the economic crisis with our tax payers' money. This is what Marx predicted, that the bourgeoisie exploit the working class.
Well what the hell am I trying to say anyway? The point is, the economy is in the shit right now. No one knows how to fix our current economic problem because it has never happened before. People aren't spending their money like they used to. People are afraid to spend money. The current unemployment rate is above 7%. The stock market has been down for more than 45% since last summer. After reading what Marx had to say, some of the things he predicted sounds reasonable, but it is far too idealistic to ever come true. I wonder how our economy will stand in the future, will it really crumble?
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