Explain the phrase â€The Bourgeoisie digs its own graveâ€. What
does that mean in the context...
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Economics
Explain the phrase â€The Bourgeoisie digs its own graveâ€. Whatdoes that mean in the context of growth and capital incomeshares?
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Capitalists or Bourgeoisie accumulate ever increasing quantities of capital which ultimately leads inexorably to a falling rate of profit ie return on capital and eventually to their own downfall But in this Piketty merely repeats the mistake of various proponents of the productivity theory of interest Unlike common belief and as counterintuitive as it may sound interest is not the remuneration for capitals productivity but merely a reflection of savers time preference As the pure time preference theoristsmost
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