Karl Marx (4)

Following on from my post on Karl Marx, I want to argue against the idea that there is no longer any distinction between workers and owners.

This is the political philosophy of the ownership society. The idea was to get all people to become supporters of the Capitalism system through:

• Home ownership
• Share ownership

This is the basis of the claim that there is no longer any distinction between workers and owners. The argument is that everyone can become an owner by participating in the share and housing market.

This political philosophy started with Margaret Thatcher and Ronald Reagan. This was to garner political support for:

• Breaking up the uniosn
• Lowering taxes
• Reducing welfare

Unfortunately, this political philosophy fell afoul of the concentrating tendencies of Capitalism. Wealth accumulates into fewer and fewer hands. This is one of the laws of motion of Capitalism.

This was demonstrated time after time with the share market crashes of 1987, 2000, and 2008. There was the Savings and Loans crisis (and the building society crisis) of the 1980's, and the Great Financial crisis of 2008.

Capitalism cannot, by itself, extend the ownership class. More and more people must be reduced from owners to workers.

The politcal nature of Capitalism means that the ruling elite must become smaller and smaller as Capitalism becomes more and more successful.

The owners are becoming workers, not the other way around.