Is Karl marx's diagnosis of America right?

[peilthetraveler]

Quote from Random.Capital:

So, AT&T says it can't afford the $3B or so it will cost to upgrade its network. A couple of months later, it puts in a bid to buy T-Mobile for several multiples of that $3B. That, apparently, they can afford to do.

Buried in the deal, is that the breakup fee, if the deal doesn't go through, is $3B to be paid by ATT. This would be the same $3B they couldn't afford to spend on their network.

You don't need to be Karl Marx to see there is something completely screwed up about that.

I'll go crash on the couch for the thirty seconds it will take someone to post how the private sector is so much more efficient than the public sector...

AT&T had a monopol

 

[peilthetraveler]

Quote from Random.Capital:

So, AT&T says it can't afford the $3B or so it will cost to upgrade its network. A couple of months later, it puts in a bid to buy T-Mobile for several multiples of that $3B. That, apparently, they can afford to do.

Buried in the deal, is that the breakup fee, if the deal doesn't go through, is $3B to be paid by ATT. This would be the same $3B they couldn't afford to spend on their network.

You don't need to be Karl Marx to see there is something completely screwed up about that.

I'll go crash on the couch for the thirty seconds it will take someone to post how the private sector is so much more efficient than the public sector...

AT&T had a monopoly for 100 years. Before 1983, you had to lease a phone from them for the price of $9.99 per month(or $19.99 for the push button phone). Long distance charges were $1 per minute! And thats $1 per minute pre-1983. A gallon of gas didnt even cost $1 back then. You would think 100 years of a monopoly like that and you would have some serious cash.

 

[SnakeEYE]

there is nothing wrong with communism,at all..

 

[CaptainObvious]

Quote from Grandluxe:

"Owners of capital will stimulate the working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks, which will have to be nationalized, and the State will have to take the road which will eventually lead to communism."

- Karl Marx, (Das Kapital, 1867)

Marx was right about our form of corrupt capitalism, but wrong that communism would be any less corrupt. It's just human nature that there will always be people that want more and are willing to do whatever it takes to get it, including sacrificing the many to enrich the few.