Worse Than They Want You to Think

Description

Worse Than They Want You to Think: A Marxist Analysis of the Economic Crisis

By Andrew Kliman

2008. 26 pgs.

Text of October 21, 2008 talk, plus accompanying graphs.

“Many liberals and leftists have told us that the $700 billion-plus bailout was not needed …. But the crisis is much worse than they want you to think, and that’s because they’ve been focusing on the wrong issues. …

“The really acute, immediate crisis, … the one that could lead to outright economic collapse, is the crisis of confidence that has caused the liquidity lock. These liberals and leftists have proposed no alternative policies to deal with this crisis, and that’s because, if one wants to save the capitalist system, there basically aren’t any alternatives that differ, except in the details, from what the Treasury and the Fed and foreign governments are now doing …. There’s only one alternative to crisis of confidence and the liquidity lock that differs from this in more than details–a new, human, socio-economic system, socialism.”