Marxism's fatal flaw

Wednesday, 29 October 2008 10:19
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Marx's analysis of capitalism is plain wrong. Marx lumps together land and capital and calls them both "land". A disastrous confusion. Capital is produced by labour. Land is fixed in supply and is a gift of nature (or of God but there is a widepread view just now that he doesn't exist). Both workers and the owners of capital are both at the mercy of landowners. Which is why owners of land tended to become the owners of capital. But in economics, the two roles are different. Marx ignores this difference.

 

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