Wednesday, March 24, 2021

Marxist interpretation of social reality

From a Marxist point of view, of class-war dialectics,  zero interest rate has the effect of increasing the worth of non-reproducible goods such as real estate, stocks, commodities, etc. Since only 5-10% of the population owns these goodies in any significant quantity, they are the sole beneficiaries. That is, zero interest rate policy increases the gap between  the owner and the proletarian classes. Parallelly, the outsourcing of the mean of production, of factories, of industries, weakens the working class and empowers the propertied class. Dr Faber goes one step further saying that democracy, one vote for each, means that the votes of the 5-10% (the owners class) has no influence in the results of the elections, so for these class, democracy is unjust and unfair. Since they are cheated of any voting power, they feel that manipulations and faking are justified and even they are imperative.  

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