"Karl Marx had it right. At some point, capitalism can destroy itself. You cannot keep on shifting income from labor to capital without having an excess capacity and a lack of aggregate demand. That’s what has happened. We thought that markets worked. They’re not working."

Economist Nouriel Roubini in a WSJ interview. He earned the nickname “Dr Doom” for predicting the current financial crisis. (via humanformat)

(via jonathan-cunningham)

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