Marx Immiseration Thesis

Hence the very term “proletariat”, referring originally to landless citizens living in Roman cities.

Lacking work, they were pacified first by state provision of bread and circuses, and ultimately by employment as mercenaries.

Owners of capital will stimulate the working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable.

The unpaid debt will lead to bankruptcy of banks, which will have to be nationalised, and the State will have to take the road which will eventually lead to communism.

For Marx, the fundamental crisis tendency of the capitalist mode of production was not limited in its scope to periodic downturns in economic activity.

Essays On Music Piracy - Marx Immiseration Thesis

It revealed itself most forcefully in a permanent crisis of working life.

However, the proletarian condition is historically uncommon: the global peasantry have, throughout history, mostly had direct access to land as self-sufficient farmers or herders, even if they were almost always coerced into giving a portion of their product to ruling elites.

Thus the need for “primitive accumulation”: separating people from land, their most basic means of reproduction, and generating an all-round dependence on commodity exchange.5 In Europe, this process was completed in the 50s and 60s.

(I now appreciate, as I didn't then, how valuable this is as a historic record.

But it's quite something to wade through.) And third, because no one in 1870 imagined the working class having access to bank credit.


Comments Marx Immiseration Thesis

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