Sunday, August 14, 2011

Mainstream Economist Nouriel Roubini: Marx Was Right. Capitalism May Be Destroying Itself

Nouriel Roubini is a mainstream economist who teaches at New York University and may be best known as one of the early predictors of the '08 crash.

He is no Marxist.

But today, in an interview with the Wall Street Journal, Roubini admitted that Marx was right about Capitalism and raised the possibility that Capitalism is destroying itself in the way Marx outlined more than a century and a half ago.

I've produced a rough transcript (Roubini's accent gives me some trouble) of the critical portion of this very interesting interview. I urge you to read each word carefully at least once, if not twice.

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