Topic > The Failure of Capitalism in Karl Marx's Communism...

Some argue that Karl Marx's predictions are wrong, while others argue that they are right. One of them is Roubini, the man who correctly predicted the financial collapse of 2008. In an interview with the Wall Street Journal, Roubini said: “At some point, capitalism can destroy itself (“Because Karl Marx was right” )”. He stated: “You cannot continue to shift income from labor to capital without having excess capacity and a lack of aggregate demand (“Because Karl Marx was right”).” He said that this was why we found ourselves in this major financial crisis in 2008. He said that we thought markets worked but they didn't and that the individual can be rational (“Because Karl Marx was right”). He concluded by saying: “The business, to survive and prosper, can lower the cost of labor more and more, but the cost of labor is someone else's income and consumption and that is why (capitalism) is a process self-destructive ("Because Karl Marx was