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smalltownrifle 1y ago 💬 4

Number 4, 5 and 6 of the suggested measures by Marx and Engels to achieve the goals of the communists in most countries (They actually come in this other in the text):

4. Confiscation of the property of all emigrants and rebels.

5. Centralisation of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly.

6. Centralisation of the means of communication and transport in the hands of the State.

https://www.marxists.org/archive/marx/works/download/pdf/Manifesto.pdf

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Bitcoin Sikho 1y ago

There won’t be any private property, as they want to remove the class that’s based on private ownership, so everyone will be equal, but in return they’ll take away (few freedoms ) your right to free speech with #6 as all the communication instruments will be under the state control.

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smalltownrifle 1y ago

The problem is, if everyone owns everything, the situation will automatically give rise to a group of people who will determine who appropriates what.

This is because conflicts will arise about who gets to use a particular resource and how it is valued, which will require mediators to resolve them.

That will end up creating a ruling class and a ruled class built on a coercive relationship.

Instead, if property rights are respected and upheld, if people engage in subjective valuations, it will give rise to a price system based on which voluntary exchange can occur.

It will be a lot more peaceful and actually workable.

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smalltownrifle 1y ago

When the state controls,

1. The means of exchange, which is money, through legal tender laws

2. The cost of capital, which is benchmark interest rates, through central banks

3. And the money supply, which is debt creation and contraction, through the central banks

It is Socialism.

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smalltownrifle 1y ago 💬 1

It seems like the link between central banks and socialism is not at all something that's appreciated by many.

It is not a capitalist system when the cost of capital itself is centrally planned through benchmark interest rates.

It creates a scarcity in capital and makes capital accumulation concentrated in the hands of a few, the same way price controls create scarcity in the supply of commodities and concentrate production in the hands of a few.

And then there's also this:

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