Re: [Marxism] "Making Lenin Proud" (WSJl takes on Ecuador's Rafael Correa),

["Fred Feldman" <ffeldman@xxxxxxxxxxxxxxxx>]

I want to point out an error in my clarification of the following statement
by Lenin:

"The way to crush the bourgeoisie is to grind them between the millstones of
taxation and inflation." -- Vladimir Lenin
 
I said that Lenin had worked on a part-time basis for the Heritage
Foundation and the American Economic Institute. I meant, of course, the
American Enterprise Institute, where Lenin for a time he held the position
of Revolutionary Terrorist in Residence. I apologize to the AES for the
incorrect identification, of which they were kind enough to remind me.
 
Few know that Lenin was the originator of the Laffer curves whicb highlight
the effects of inflation.  In Lenin's initial version, the curve compared
the joint rises of inflation and taxes with death rates among the
bourgeoisie, and found that if the two items reached a certain point, the
entire bourgeoisie would commit suicide.
 
It became known as the Laffer curve because Lenin explained that the thought
of all them bourgeoisies hanging themselves, and jumping ofgskyscraper
window ledges made him "laff till I lak to bust."
 
Of course, the road to exterminating the bourgeoisie has proved far more
winding and complicated than any of us expected.  As we know, the decline in
inflation and the Reagan and Bush tax cuts resulted in the fall of communism
in the United States, where we thought nothing could challenge it.  Most of
us are still trying to figure out what happened.
 
My apologies to everyone who may have been thrown off by my error.
Fred Feldman
 

 

________________________________________________
YOU MUST clip all extraneous text before replying to a message.
Send list submissions to: Marxism@xxxxxxxxxxxxxxxxxxx
Set your options at: http://lists.econ.utah.edu/mailman/listinfo/marxism