Most of Marx's predictions have failed to materialize, and his labor theory of value and other ideas have been proven wrong. Marx failed to recognize the incentive system built into the capitalist model - consumer choice and the profit motive of the entrepreneur. The irony is that capitalism, not socialism or Marxism, that has liberated the worker from the chains of poverty, monopoly, war, and oppression, and has better achieved Marx's vision of a millennium of hope, peace, abundance, leisure, and aesthetic expression for the 'full' human being.
Mark SkousenBack in 1960, the paper dollar and the silver dollar both were the same value. They circulated next to each other. Today? The paper dollar has lost 95% of its value, while the silver dollar is worth $34, and produced a 2-3 times rise in real value. Since we left the gold standard in 1971, both gold and silver have become superior inflation hedges.
Mark SkousenFraud is common when you give away billions. Fraud related to Hurricane Katrina spending is estimated to top $2 billion. In addition, debit cards provided to hurricane victims were used to pay for Caribbean vacations, NFL tickets, Dom Perignon champagne, 'Girls Gone Wild' videos, and at least one sex change operation.
Mark SkousenOne suggestion my wife and I have used in our personal finance courses we teach at college is simply writing down all expenditures and seeing where the money goes. That alone will cause heads of households to think twice about x, y or z expenditure, and to consider carefully whether they really need something or not.
Mark Skousen