Question for fellow students: If the US was to face another great depression (th

Question

Question for fellow students: If the US was to face another great depression (the loss of money/jobs/resources again), what if anything from Marx or Adorno ideas would you think could best save us for a better future? Question for fellow students: If the US was to face another great depression (the loss of money/jobs/resources again), what if anything from Marx or Adorno ideas would you think could best save us for a better future? Question for fellow students: If the US was to face another great depression (the loss of money/jobs/resources again), what if anything from Marx or Adorno ideas would you think could best save us for a better future?

Explanation / Answer

According to Marx , the best possible to eradicate depression was to remove capitalism and hence establishing a more democratic and egalitarinian economy , which would not be prone to having depression. Hence , the frequency of depression will not be high.

It was capitalism which gave rise to overproduction of goods and services . It helps in spreading new markets in our global economy. It led to an increase in the cheap labour . Marx was vehemently against this. These factors helped in the growth of capitalism.

The primary cause of having depression is loss of profits and massive rate of debt .

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