• davel@lemmy.ml
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    56 minutes ago

    The compounding returns of a capitalist economy reward iterative investments in new productive capital. That’s fine. Good even. At least, according to Marx. If your goal is to approach a post-scarcity economy, you need a period of growth in productive capacity and distribution.

    Marx described the good and the bad of it, at a time when capitalism was reaching its late/monopoly/imperial stage, and he largely correctly predicted what late-stage capitalism would look like. Lenin further developed these theories while living under capitalism’s highest stage.

    Western Marxists saw China’s “opening up” as an abandonment of Communism/socialism. Ultras fear the scroll. They don’t understand that, in order to get to the end-goal, you need to leverage the good parts of capitalism—while keeping the capitalists on a short leash—in order to quickly develop the productive forces, especially when the imperialist states are trying to crush you.