Bursting the Bubble: Capitalism, GameStop, and Marxist Economics

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The GameStop bubble exposes the utter irrationality of the capitalist system. Since Tulip Mania in the 17th Century, financial speculation has been a core feature of capitalist production. This massive speculation, untethered from the production of goods and services for human need inevitably leads to a crash. While seemingly a story of the people taking on the financial elite, the bubble will burst, and when it does the billionaires will force workers to pay.
Workers produce all wealth. The stock market, which has been booming during the profound economic and social crisis of the COVID-19 pandemic, has little to no connection to the productive economy. Casino finance and speculative bubbles speak to the irrationality of capitalism, a system based on private ownership of the means of production.

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