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Monday, November 26, 2018

THE GLOBAL TRAP MARX ON CONVERGENCE THE PIKETTY FALLACY

"The general tendency of capitalist production is not to raise but to sink the average standard of wages, or to push the value of labour more or less to its minimum limit." Marx, The First International, London, 1865; The Global Trap, p 7.

This post is dedicated to Thomas Piketty, who, trust me, doesn't want a sniff of this.

Brooks, Friedman, Leonhardt, and Krugman need to be dragged over, to sniff this too.

The dog returns to its vomit.

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