By Andrew L. Jaffee

“The making of profits is impossible,” wrote Eleanor Marx, summarizing one of her father’s key economic concepts as set forth in his rather long-winded Das Kapital. I then wonder how my left-wing friends would explain the fact that, “China will soon overtake Germany to become the world’s third-largest economy behind the US and Japan.” We’re talking 100’s of billions in “communist” profits; so much so that the politburo has had to “curb the pace of growth” with “five interest rate increases in 2007 and limits on spending on factories and property:”

China’s economy grew at an annual pace of 11.5% in the three months to the end of September, official figures show.

The figure was ahead of economists’ predictions but slightly slower than the 11.9% seen in the previous quarter. …

Growth slowed to 11.5%! Still no contradictions? China is the “world’s second largest emitter” of carbon and, “Every week to 10 days, another coal-fired power plant opens somewhere in China that is big enough to serve all the households in Dallas or San Diego.” And these left-wingers still think of China as some kind of nirvana…

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Related: Economy, Political Correctness, China, Communism / Socialism, Philosophy / Ideology

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