"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)