Sunday, August 14, 2011
Blog2010ray2: NYU’s Nouriel 'Dr. Doom' Roubini: ‘Karl Marx Was R...
Blog2010ray2: NYU’s Nouriel 'Dr. Doom' Roubini: ‘Karl Marx Was R...: "NYU’s Nouriel 'Dr. Doom' Roubini: ‘Karl Marx Was Right’ - International Business Times"
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"Karl Marx had it right," Roubini said in an interview with wsj.com. "At some point capitalism can self-destroy itself. That's because you can not keep on shifting income from labor to capital without not having an excess capacity and a lack of aggregate demand. We thought that markets work. They are not working. What's individually rational...is a self-destructive process."
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