Socialism

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Somewhat vague expectations of a collapse of capitalism are, in the minds of German Socialists, associated with industrial crises. These hasten the ruin of the small capitalist and the disappearance of the middle class. They are regarded as ominous indications of the impossibility of capitalism, of its inability to control its own productive forces. "The contradic- tion inherent in the movements of capitalist society, " wrote Marx in 1873, "impress themselves upon the practical bourgeois 120 SE
...LECTED ARTICLES ON most strikingly in the changes of the periodic cycle through which modern industry runs and whose crowning point is the universal crisis. That crisis is once again approaching, although it is but yet in its preliminary stage. " The extension of the world's market, Socialists are disposed to hold, merely increases the scope and intensity of the contradictions of capitalism. Engels states in one place that improved methods of transpor- tation and the extension of the field open to investment of the excess of European capital have weakened the tendencies toward a crisis, but later remarks that all factors striving to prevent a repetition of former experiences are merely preparatory to a greater crash.

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