Marxists, although not so much Marx himself, postulated that there would be a working-class revolt as capitalism disintegrated into the inevitable, classless, political ideology called communism. This transitional revolt, commonly referred to as the Dictatorship of the Proletariat, would overthrow the Dictatorship of the Bourgeoisie and provide a solid foundation for a burgeoning dictatorship. Theoretically, such a turn of events would be the result of a tipping point whereby the proletariat feels pushed to act against the unruly behaviour of the bourgeoisie. If there’s ever been a point in time when the bourgeoisie’s unruliness has stretched the tethers of the proletariat, then I’d say it was now.
Venture capitalists and private equity firms are the epitome of the bourgeois; they’re wealth producers via the work of the proletariat (working-class). Marxists see this as exploitation, capitalists see it as opportunistic, and most others see it as an immutable fact of life. The reason I bring this up is that the current financial unpleasantness has unearthed a range of commentary about the morality of capitalists and the importance of the greater good. Of course, the greater good is a utilitarian theme that borders on socialism and, in some respects, communism. So, this lends itself to an interesting paradox for those extolling the virtues of capitalism (usually in anticipation of benefiting from it) and engaging in this greater good commentary.
Not so much finger pointing, just food for thought about bad private equity.