Jess
@things2
Jess
@things2
Warren Buffett used a very apt metaphor once to describe how the second-order problem is best described by a crowd at a parade: Once a few people decide to stand on their tip-toes, everyone has to stand on their tip-toes. No one can see any better, but they’re all worse off.
In this process, Marx saw the seeds of a society that would eventually be reduced to two classes—owners and workers.
Marx...was among the very first to recognize that the fever-fits of financial crisis and depression that afflict modern market economies were not a passing phase or something that could be easily cured, but rather a deep disability of the system...