Milford chronicle., 1955-01-14
MARX WAS A BAD FORCAsTER

MARX WAS A BAD FORCASTER
The basic tenet of Communism, which
Marx argued and developed in elaborate de-
tail in Das Kapital, is that capitalism eX-
plOits the masses for the benefit of the few,
and that increasing industrialization under
capitalism would inevitably lead to more ex-
plOitation coupled with a steady decline in
living standards. In Marx view, the end re-
suit would be revolutions in all the capitalist
countries, with maddened workers throwing
off their chains and turning on their Oppres-
sors.
The exploitation theory, of course, is
still one Of the big talking points Of the Com
munists, just as it was at the time of the
Russian revolution. 1t is repeated ad infini-
tum, ad nauseum in the Soviet press and on
the Soviet radio. The prime target and ex-
ample is always the United States
IT. is interesting to examine this in the
light of an article by Gilbert Burck in the
January issue Of Fortune magazine. Mr..
Burck's article is part of series Fortune
calls "The New Economy" 1t begins with
these words: "The supreme economic story
of the past 25 years can be reduced to one
simple, colossal fact: today the average
American, though he works about Is per
cent fewer hours, has roughly so per cent
more purchasing power than he had a quar-
ter-century ago. This remarkable advance
in mater al welfare is almost entirely a re-
suit of the fact that national productivity
which may be defined as average output per
man-hOur, has shown an average annual in
crease, since 1880, of more than two per
In other words, we have had more in
disqualification, more mechaniZatiOn of work
in all fields-yet instead of dropping, our
living standards have scared. And no one
thinks we have come to the end of the trail
Mr.. Burck reports that many conservative
economists "believe the u. S. economy in
the past few years has broken through some
barriers" and the annual rate of advance il
productivity is moving toward a minimum
of 2.5 per cent. H that occurs for the mex
Is years, he continues, "the annual cash in
come Of the average American family uni
IN 1880, after taxes, will probably conn
close to $780, in 1853 dollars. What il
more, this figure makes allowance for a de
crease in working hours
Some of the greatest tributes to tn
American system Of production have com
from members of foreign productivity team
which have visited here in late years FoH
tune quotes a number of their comment:
One said, Management and labor feel
far greater sense of responsibility to tn
public here than In Germany" Another sale
"Ihe speed and growth of mechanizatio
manifestly have not resulted in setting
pace that kills they have increased
health, welfare, and longevity more rapid
than in any other country" Another sale
I'm Europe the majority Of people have a
inferiority complex; in America they hel
one another whenever they can" And sti
another said that in this country "produ,
tiYity is a state of mind It is the will
ingness not to be content with the preser
situation, however good it may be
is faith in human progress"
Without arguing the pros and cons
Marx theories, it seems evident that he We
one of the world S. worst forecasters so fs
as matters of fact are concerned.
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