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Stefan Stern: Marx was right about change - Commentators, Opinion - The Independent

Stefan Stern: Marx was right about change - Commentators, Opinion - The Independent
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Even now, most global financial institutions and political leaders are advocating wholly orthodox approaches to managing budget deficits and currency volatility, even as their efforts are revealed as being more or less futile, or worse. The truth is perhaps too scary for some to contemplate. Either that, or the temporary winners of the current system are simply filling their boots with as much as they can before the next, potentially even bigger crash.

Those who regard the recent actions of rioters in English cities as "criminality pure and simple" will not see any connection between Roubini's declaration that "Marx was right" and the decision to steal a 42-inch TV from a burning electricals store. But, for some, looting may have seemed a sensible (if illegal) response to the apparently continuous turmoil of the economy. If everything about your financial future seems at best uncertain and at worst desperate, why not carpe diem, or carpe television at any rate? Rational economic man (and woman) has finally been sighted, legging it down Tottenham High Street in a new pair of trainers.

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