I was sent this today, and I think Karl Marx perfectly summarizes whats going on around the world. Its amazing that he wrote this in 1867.
«Owners of capital will stimulate the working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks, which will have to be nationalised, and the State will have to take the road which will eventually lead to communism»
With the increase government control of many large corporations around the world we will see a lot of changes in the forthcoming years. Who knows how this will pan out. My feelings is that it could be good for Ethics, CSR and Sustainability. Yesterdays commitments from Obama about a new energy policy and also his commitment regarding a more ethical Whitehouse are first indications of probable US policy. Its not really surprising since its the governments who will sign the binding targets at the COP15 UN climate change meeting in December and they will want to pass on the risk and job of achieving these targets to the business world. Now that they have so much control in many of the industries and financial world, it will be easier for them to enforce new carbon and renewables legislation. At the same time there may be a greater tendency for governments to become more nationalistic. Yesterday for example in Spain, one of the worst affected countries, the Minister for the Economy called for Spanish industry to buy local. In tough times and with a need to reduce carbon emissions through transport, we can expect to see much more of these types of messages.
So is Karl Marx right? Will we see a return to a new form of communism?