Sunday, April 6, 2014

I know we haven't studied Communism yet, but I find it interesting that Lenin spends so much time talking about the negative aspects of monopolies, which he admits, "is the exact opposite of free competition" (243). Assuming Communism is where his critique is headed, it makes me wonder how he supposes the controlled market in this alternative government will not transform in the negative fashions of Capitalism. I guess it's something I'll keep in mind.

I'm curious about his section on banks. He writes twelve years before the great stock market crash in America, but in his discussion of bank's monopolizing power he states this is due in part, "by decline in the importance of the Stock Exchange" (215). Was the economic environment in Germany much different than in America when he wrote? Or was he off on his claim?


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    1. Kyra I think Lenin is off on his claim. The economic turmoil in Germany was due to the Treaty of Versailles. Germany had to pay a lot of money to Great Britain and France and so the Government just printed douche marks non-stop. That just devalued the currency. Germany wasn't doing well economically but it is not the fault of a stock exchange crash.


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