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Now, the reason why Marx is important in all of this is because Marx had an acute understanding of how capital-accumulation works. He understood that this perpetual growth machine contains many internal contradictions. For example, one of the foundational contradictions Marx talks about is between use-value and exchange-value. You can see this worked out in the housing situation very clearly. What’s the use-value of a house? Well, it’s a form of shelter, a place of privacy, where one can create a family life. We can list a few other use-values of the house, but the house also has an exchange-value. Remember, when you rent the house, you’re simply renting the house for what it’s worth. But when you buy the house, you now view this home as a form of savings, and after a while, you use the house as a form of speculation.
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Marx talks about this contradiction and it’s an important one. We must ask the question: What should we be doing with housing? What should we do with healthcare? What are we doing with education? Shouldn’t we promote the use-value of education? Or should we promote the exchange-value of these things? Why should life necessities be distributed through the exchange-value system? Obviously we should reject the exchange-value system, which is caught up in speculative activity, profiteering, and actually disrupts the ways in which we can acquire necessary products and services. Those are the kind of contradictions Marx was well aware of.
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My interest in this derives from a very simple contradiction: We’re supposed to live under capitalism, and capitalism is supposed to be competitive so you would expect that capitalists and entrepreneurs would like competition. Well, it turns out that capitalists do everything they can to avoid competition. They love monopolies.
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What’s that new paradigm? We can’t go back to old-style communism–for instance, Stalinism. Absolutely not. I would be the first one to object…Let me put it very succinctly to you: I would be in the gulag under that regime. People like me would be in the gulag and people like Hillary Clinton would be in the Politburo.