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Article: Bear market no bull to followers of Marx
- Article from:
- Chicago Sun-Times
- Article date:
- October 25, 1987
- Author:
CopyrightCopyright (null) Chicago Sun-Times. (Hide copyright information)
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Maybe Karl Marx was right about the "inherent contradictions" of
capitalism after all.
When the father of Communism was writing his seminal works 120
years ago, stock markets were in their infancy and the Chicago
Mercantile Exchange didn't exist.
But his theory that successive booms and busts would leave
capitalist economies in chaos may not have sounded so ideological to
shell-shocked investors who watched the stock market fall 508 points
Monday, rebound 290 points by Wednesday and then fall 77 points
Thursday.
What would a modern Marxist make of last week's events - would
he feel vindicated that the end of democratic capitalism was at hand?
"I think it was optimistic on Karl's ...