Fall of capitalism

Published on 12/09/2012 00:00

Peter Bickley (Smart Money, 
8 September) is correct that “Das Kapital’s theory that capitalism contains the seeds of its own 
destruction is easily dismissed”.

The current mess is not the result of free-market capitalism but, instead, is the result of state intervention in the money supply by means of central banks and other mechanisms. This intervention made credit far more available than would have been the case in a free market and led to boom and bust.

It should be noted that central banks are a nationalisation of the money supply and are a key plank of the communist manifesto, so anyone citing the theory of Das Kapital is, in fact, blaming capitalism for the failure of Marxist ideas.

Bruce Crichton

Victoria Road

Falkirk, Stirlingshire