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The Mysterious Destruction of Productive Forces (edit)
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This was originally published on May 25, 2020 by the founder of [[InfraWiki]], originally on [[ProleWiki]]. | This was originally published on May 25, 2020 by the founder of [[InfraWiki]], originally on [[ProleWiki]].<ref>[https://en.prolewiki.org/wiki/Essay:The_Mysterious_Destruction_of_Productive_Forces ProleWiki page] [https://web.archive.org/web/20220602203440/https://en.prolewiki.org/wiki/Essay:The_Mysterious_Destruction_of_Productive_Forces (Archived)]</ref> | ||
During the 1929 Great Depression, the [[Bourgeoisie|elites]] sought to rescue their [[Tendency of the Rate of Profit to Fall|plummeting profits]] by outright destroying usable inventory, such as livestock and grain. Aggregate demand fell because the [[Proletariat|commoners]] had less money to spend, so the only way to salvage profitability was to reduce supply, thus increasing prices.<ref>[https://time.com/5843136/covid-19-food-destruction/ 'The Saddest, Bitterest Thing of All.’ From the Great Depression to Today, a Long History of Food Destruction in the Face of Hunger]</ref> | During the 1929 Great Depression, the [[Bourgeoisie|elites]] sought to rescue their [[Tendency of the Rate of Profit to Fall|plummeting profits]] by outright destroying usable inventory, such as livestock and grain. Aggregate demand fell because the [[Proletariat|commoners]] had less money to spend, so the only way to salvage profitability was to reduce supply, thus increasing prices.<ref>[https://time.com/5843136/covid-19-food-destruction/ 'The Saddest, Bitterest Thing of All.’ From the Great Depression to Today, a Long History of Food Destruction in the Face of Hunger]</ref> | ||