PAPM 1000 Chapter Notes - Chapter Marx Reading: Subprime Mortgage Crisis, Working Poor, Bourgeoisie
4 Dec 2017
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Karl marx was right: karl marx exposed the peculiar dynamics of capitalism (1, he foresaw that capitalism had built within it the seeds of its own destruction. He knew that reigning ideologies think neoliberalism were created to serve the interests of the elites and in particular the economic elites. (1) This is what happened with the subprime mortgage crisis. Once the banks cannot conjure up new subprime borrowers, the scheme falls apart and the system crashes. (2: marx warned that in the later stages of capitalism huge corporations would exercise a monopoly on global markets. The need of a constantly expanding market for its products chases the bourgeoisie over the entire surface of the globe, he wrote. Corporate capitalists intend to seize this money, hence the privatization of whole parts of the military, the push to privatize. Social security, the contracting of corporations to collect 70 percent of intelligence for our.
