Surely I can't be the only one who thinks of Karl Marx when I read about the economy. And when I say that I mean I think about Marx's critique of capitalism, not his theory for advancing communism. I think its hard to argue that he wasn't onto something with his critique of capitalism as an economic system, which is basically that it concentrates all the wealth in the ownership class at the expense of the laborers. Is that not what is going on now, and has been for the past 30 or so years?
If I'm wrong tell me. But if not, I think it says something about the connotation Marx and his theories carry that he isn't brought up essentially at all. For most people, when you say Marx, they think of the Soviet Union and all of the horrible aspects of it's existence. Fair or not, Marx has a bad reputation. And when you cite him everyone jumps to call you a commie and dismiss you as a crank. But again, tell me how his analysis of our economic system isn't relevant right now?
Here is a roundup of a bunch of charts and figures detailing why the people of Occupy Wall Street and most of the rest of the country are angry at basically everyone responsible for the state of the economy. Here are a few that stand out:
I don't think the answer to these problems is to hand the economy over to the state. But I think most of us can agree that something needs to change in order to remedy this vast difference between the owners and laborers.