"Profligate Extravagance . . ." (1927)

From the July 1927 issue of the Socialist Standard

Never has Le Touquet seen bigger gambling than this Whitsun.  . . . Banks of £2,500 were by no means uncommon, and the losing of a million francs was a frequent occurrence. (Daily Mail, 8/6/27.)

Karl Marx showed that, in contrast to the earlier parsimony of the Capitalist Class, profligate extravagance becomes a normal expenditure to them as an off-set to the enormous increase of their wealth. The above is only an incident which shows that our masters can afford to gamble away at one sitting an amount that has to suffice to keep a worker’s family for years.

Mac.