Vladimir Lenin on Economic Disparity, Private Property, and the Need for Systemic Change

The Second Congress of the Communist International

In the United States of America food prices have risen, on the average, by 120 per cent, whereas wages have increased only by 100 per cent. In Britain, food prices have gone up by 170 per cent, and wages 130 per cent; in France, food prices—300 per cent,. and wages 200 per cent; in Japan—food prices 130 per cent, and wages 60 per cent (I have analysed Comrade Braun’s figures in his pamphlet and those of the Supreme Economic Council as published in The Times of March 10, 1920). 

In such circumstances, the workers’ mounting resentment, the growth of a revolutionary temper and ideas, and the increase in spontaneous mass strikes are obviously inevitable, since the position of the workers is becoming intolerable. The workers’ own experience is convincing them that the capitalists have become prodigiously enriched by the war and are placing the burden of war costs and debts upon the workers’ shoulders. We recently learnt by cable that America wants to deport another 500 Communists to Russia so as to get rid of “dangerous agitators”.

Even if America deports to our country, not 500 but 500,000 Russian, American, Japanese and French “agitators” that will make no difference, because there will still be the disparity between prices and wages, which they can do nothing about. The reason why they can do nothing about it is because private property is most strictly safeguarded, is “sacred” there. That should not be forgotten, because it is only in Russia that the exploiters’ private property has been abolished. The capitalists can do nothing about the gap between prices and wages, and the workers cannot live on their previous wages. The old methods are useless against this calamity. Nothing can be achieved by isolated strikes, the parliamentary struggle, or the vote, because “private property is sacred”, and the capitalists have accumulated such debts that the whole world is in bondage to a handful of men. Meanwhile the workers’ living conditions are becoming more and more unbearable. There is no other way out but to abolish the exploiters’ “private property”.

US economy expanding?

The first estimate of third quarter real GDP growth in the US was released yesterday. It showed the US economy expanded by an annualised rate of 4.9%. The Financial Times called this a “blistering pace that, not for the first time, defied gloomier predictions from economists.” US Treasury Secretary Janet Yellen commented that “It’s a good, strong number and it shows an economy that’s doing very well,” and she is “not expecting growth at that pace to continue, but we do have good, solid growth.”

US economy expanding?

The Euro Without German Industry

By Michael Hudson

The reaction to the sabotage of three of the four Nord Stream 1 and 2 pipelines in four places on Monday, September 26, has focused on speculations about who did it and whether NATO will make a serious attempt to discover the answer. Yet instead of panic, there has been a great sigh of diplomatic relief, even calm. Disabling these pipelines ends the uncertainty and worries on the part of US/NATO diplomats that nearly reached a crisis proportion the previous week, when large demonstrations took place in Germany calling for the sanctions to end and to commission Nord Stream 2 to resolve the energy shortage.

The Euro Without German Industry