Marxism as an economic theory failed most as soon as the mewling babe was out of the crib. In a piece reprinted in the Epoch Times by permission from The Daily Signal, a publication of The Heritage Foundation – “The Coup in Search of a Philosophy” -- Surse Pierpoint tells us: “In 1925, John Maynard Keynes dismissed Marx’s ‘Capital’ as an obsolete economic textbook that no serious economist would still assign. He was not being contrarian. By the time he wrote that, the marginal revolution of the 1870s had already done the intellectual work: Jevons, Menger, Walras, and later Wicksteed, Marshall, and Böhm-Bawerk had dismantled the labor theory of value that Marx’s entire economic system rested on. Among economists, the argument was over, and Marx had lost it.” Henry Ford is reported to have said about history, “History is bunk.” Shortly after Das Capital had been loosed on the world, economic “experts” pronounced Marx’s theory of value -- bunk. In years...
Lamont Governor Ned Lamont’s Democrat Party has been listing left for, some say, 30+ years. Connecticut’s still massive accumulative deficit — the total of all past budget shortfalls as reflected in Connecticut’s Comprehensive Annual Financial Report, now topping $49 billion -- began in the 1930s when the General Assembly, now dominated for decades by Democrats, collectively decided the state could live with deficits. In a brief story on pension debt published in 2023, CTMirror noted, “Connecticut amassed debt between the 1930s and 2010 by failing to save adequately for retirement benefits and by liberal use of its bonding credit card for capital projects… Overall debt across all areas tops $88 billion. Connecticut remains one of the most indebted states, per capita, in the nation, and required annual payments are expected to put extra pressure on state finances well into the 2030s or later.” The state’s overall debt was reduced during the Lamont admin...