iamom | today's reading on economics (Reply)

As usual, my economic guru

aldoushuxley (how lucky to have gotten that username) has dropped another great article on us. And as usual, the discussion generated is worth reading (save my own inconsequential remarks). Often his blog scares me a little and makes me want to go hide in a cabin in the woods for awhile. But that's okay too; I don't mind getting in touch with my primitive side sometimes.

From his blog entry on Lenin's theory on how to destroy capitalism:

By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. [...] Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become 'profiteers,' who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat.