Comments by "Merlin Geikie" (@merlingeikie) on "Biographics"
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Capitalism is a named coined by Karl Marx, over 200 years ago, to describe the, horrific by today's standards, factories and sweatshops of the day.
Marx made a living from these folks, donated to him by factory owner/friend Freddy Engels, yet Marx coined the word capitalism to describe those workplace/market dynamics, but took the money.
Marx, from a very wealthy family, didn't ever practice law, his PhD. Instead, as a violent thug, he was banned from Europe and lived in London, all his life.
Marx was sure that the working poor would rise up and make a revolution, because he didn't know that these folk were happy to have work and had come from far worse and starvation conditions, on the farm.
His predictive 1848 Communist Manifesto with its 12 points, failed to come near to reality.
Most of Marx's economic ideas were plagiarised from great economic pioneers Adam Smith and David Ricardo.
Marx sincerely thought he had the answer to the world's problems, but his handling of his only employee, the maid, whom he made pregnant, says it all.
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