Prophetic economists and world leaders

Exactly 175 years ago, Thomas Malthus (England) prophesied that since population tended to increase faster than the means of subsistence, its increase should be checked, mainly by moral means. Science and technology proved Malthus wrong, at least in...

Exactly 175 years ago, Thomas Malthus (England) prophesied that since population tended to increase faster than the means of subsistence, its increase should be checked, mainly by moral means. Science and technology proved Malthus wrong, at least in advanced economies.

Nearly 150 years ago, in 1867, Karl Marx (Germany) had this to say: "Owners of capital will stimulate the working class to buy more and more expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks, which will have to be nationalised, and the state will have to take the road which will eventually lead to communism." Even Nostradamus couldn't have said it better!

Thank heavens the world is led by the likes of Obama and Brown.

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