• queermunist she/her@lemmy.ml
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    1 year ago

    Marx characterized this as “anarchy of production” - without centralize control, the whims of the market inevitably undermine economic growth. It’s what causes the boom and bust cycles.

    • fubo@lemmy.world
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      1 year ago

      I think Marx also underestimated the class interest of the managerial class, which shows up rather vividly in actually-existing socialisms as well. Principal/agent problems are a doozy.

      • queermunist she/her@lemmy.ml
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        1 year ago

        Maybe.

        I think Marx underestimated the class divisions created by colonialism between colonizers and the colonized. It turns out that settlers could be bribed with the superprofits created through the superexploitation of colonized people. It took later theorizing by Lenin and Mao and Fanon and Du Bois to advance theory to that point.