Was Karl Marx Right? Understanding The Credit Crunch

‘Was Karl Marx Right? Understanding the Credit Crunch’ is the title of a new Workers' Educational Association (WEA) course starting on Tuesday 15 September 2009 at the Unitarian Church hall, Ellison Place, Newcastle upon Tyne, over 10 weeks from 6.00 pm - 8.00 pm.

WAS KARL MARX RIGHT? UNDERSTANDING THE CREDIT CRUNCH

As banks crumble across the world, is the game over for market economies? Was Karl Marx right about the end of capitalism, or are other economic twists and turns now facing all of us?A new adult education course, will seek to get to grips with the roots of the current economic crisis.

‘Was Karl Marx Right? Understanding the Credit Crunch’ is the title of a new Workers' Educational Association (WEA) course starting on Tuesday 15 September 2009 at the Unitarian Church hall, Ellison Place, Newcastle upon Tyne, over 10 weeks from 6.00 pm - 8.00 pm.

WEA course tutor, Dr. Trevor Bark, said: 'This course should appeal to anyone concerned about the credit crunch and who would like to increase their knowledge of social and economic conditions, and anybody who wants to know more about the world around them. We'll explore with open minds what is happening and in lively and interesting ways, looking at what Karl Marx had to say about capitalist economies.'

Dr Trevor Bark started his career in London, working with the homeless and Camden Trade Union Support unit, and with prisoners as a
researcher and lecturer at Middlesex University. He has also made films with Channel 4 and the BBC as a social movement researcher.

He received his PhD for a thesis covering the history of the informal economy from Feudalism to today, and including alcohol and tobacco smuggling.

For enrolment details contact the WEA on 0191 212 6100 or

northeast@wea.org.uk

Nige

Comments

Hide the following 10 comments

Marx is a ghost, get with the living!

15.09.2009 13:36

was karl marx right? Please! Hes just some beardy man with too much free time on his hands, waffling on about theory this, theory that. Come on, will you not be happy until he's elevated to some religeous status? History is full of these male word smiths spouting forth. Look for answers elsewhere rather than the dull imaginins of some out dated bore.
Has there ever been a post on here about a political woman who immediatley gets unquestioned adoration for something she thought. Why not? There are loads of females with theories about how it is and what could be done on all topics, so whats with the 'men only' ?
Prove me wrong, lets have some equality from posters rather than this tired,stale excuse for human political thinking. If marxists only knew how peoples hearts sink when his name is brought up. Marx is irrelevant, free yourself.

Haunted Politico

Right On

15.09.2009 14:09

"Has there ever been a post on here about a political woman who immediatley gets unquestioned adoration for something she thought. Why not? There are loads of females with theories about how it is and what could be done on all topics, so whats with the 'men only' ?
Prove me wrong, lets have some equality from posters rather than this tired,stale excuse for human political thinking."

Whilst I agree, Indymedia is what you make it. If you want to female radicals to be celebrated more than they are then make it happen. Write an article, put on a cinema showing, discussion group, or something else which you feel is relevant.

Anonyperson

Feminism

15.09.2009 14:58

Wow, Haunted Politico, out of all the reasons you could have used to argue against Marxism, you used the fact he was male. I am neither Marxist nor feminist, but you can't disregard someone's opinion just because he was a man. I am lost for words.

Was Karl Marx right?

15.09.2009 15:13

Muppetwatch

fos

15.09.2009 17:38

> As banks crumble across the world, is the game over for market economies?

errr... must of missed something here. i know there are always lot of doomsayers around when things have a correction in the same way that people claim that the bubble will never burst when things are great. The same people who said oil would burst through $200 are the same ones who said it would plummet to $5. They just want to get in the commentators news and are obsessed with extremes.

The economy has had a correction. Nothing unusual in that. Its not the end of the world and will recover and it will happen again like it has happened before. No one has said it was going to be the end of the world except the bullshitters

Was karl marx right? No

Max

the man or his ideas?

15.09.2009 20:36

Marx had lots of ideas - some like his analysis of economics, bloody good and very important, some like his vanguardist socialism, utter bollox.

Generalising statements are trite and only display your ignorance and ability knowtowing to popular assumptions mostly informed by mass media rather than any sort of critical thinking. Jez, yer worse than Guardian readers.

unnecessary

As predicted

15.09.2009 22:36

Yawn, sorry fellas is it that time already, anyway cheers for the great conversation, didn't realise it was so late, take care, don't stay up too late, goodnight.

Haunted Politico

hey politico, sweetheart ...

16.09.2009 01:02

... who u haunted by ? not the dead apparently, u have no time for the dead, they're "outdated" ... well, death does that to u, dunt it, it out-dates ya in a big way, like there's only destination in the final taxi

... hey, if u really do wanna read up on economics, and you don't fancy facial hair, u could always read rosa luxemberg you know, still dead of course, but there go, some of the best ones are

anonytrol

Hairy geists ok with me!

16.09.2009 09:44

Fair do's anonytrol no big offence intented, just a grumble about the endless coverage of the big hairy one. Thanks for the Rosa recomendation,surely you agree on the lack of female exposure though?

Haunted Politico

Not exactly

16.09.2009 19:52

Superficially, he was right: capitalist greed leads to a bust and a big bust was coming. But in some very significant ways he was wrong.

1. Marx said the ruling class were those who owned the means of production. The means of production are in China. UK is economically in trouble because it has no means of production.

2. Marx said that greedy capitalists would over-produce goods that people couldn't afford to buy; they then lose money; then there is a crash. Well, the goods are imported. According to Galbraith, there was no lack of demand to buy in the Thirties and there isn't now. The crash has come about because of 'wreckless lending' by 'greedy banks'.

Marx did not predict that the main capitalist economies would fling their industries to the Far East so that their own consumers couldn't afford to buy them, and then banks would go out of its way to over lend and wreck the economy. Marx was a theory about the industrial sector not the financial one.

Marxist economics can be misleading. You focus on the industrialist wanting profits. You don't look at the global elite intentionally creating an economic crisis in order to push nations in the direction they want. That's why the speculators are walking away with massive bonuses - they did the job they were supposed to.

insidejob