Who knows capitalist economics better Barack Obama or Karl Marx?

Karl Marx of course. There are few people alive or dead who better understood capitalism than Karl Marx

Obama knows capitalism better. He studied it quite a bit after Marx and a great deal more was added to the body of knowledge.

It just so happens that in monopolies and oligopolies (health insurance is an oligopoly, which is an industry with some but very little competition) you can have profits above the minimum and engage in profit maximizing behavior that is detrimental to the consumer, which companies in an ideal competitive market cannot. The fact is, there is no such thing as a true ideal competitive market, just approximations to varying degrees. Buying and selling gold on an exchange is about as close as possible to a true free market. Health Insurance is not even remotely similar, only a monopoly is worse.

That wasn't known at the time of Marx.

EDIT: justgoodfolk, just because Marx studied it more and was smarter than most people (smart enough to know that those who were using his theory were doing terrible things which prompted him to famously declare "I am not a Marxist.") doesn't mean he knew more over a hundred years ago than Obama knows today. Aristotle was one of the smartest people who ever lived and nearly everything he ever said was wrong. He invented the study of physics, it's kind of hard to get it right when there has been no serious study yet at that time. It's not quite to the same degree with Marx and Obama, but Obama knows the economic theories of people like Keynes, Freeman, Nash and others who came after Marx and he has seen the rise and fall of the Soviet Union. You give too much credit to Marx to suggest that he would still know more about capitalism than Obama (and anyone else who has taken some basic economics courses) who studied it recently.

Karl Marx is wrong. Of course, some industries have higher profit margin than others. Greedy investors invest in places with best rate of return. Karl Marx has not heard of price discrimination. For example, IBM charged different prices to different customers on the same type of machine. The rich customers were charged more.

One thing has nothing to do with the other.

This country does not operate in a free market capitalist economy.

We operate in a mixed economy.

In the case of a mixed economy, government intervenes in the market when it deems necessary (like the stimulus package) and it provides services that it deems the free market unable to provide (like, in this case, healthcare, but more often utilities, infrastructure, education).

In a true free-market economy, the market would take care of building roads, the market would take care of providing education.

One of the reasons that experts believe that Marx's revolution did not occur was because liberal government reforms aimed at mixed economic measures such as government-sponsored education and healthcare improved the plight of the workers to the point that revolution was no longer necessary.

Marx argued that capitalism, like previous socioeconomic systems, will inevitably produce internal tensions which will lead to its destruction. Just as capitalism replaced feudalism, he believed socialism will, in its turn, replace capitalism, and lead to a stateless, classless society called pure communism.

Do you really believe capitalism will be replace with Communism in the USA ?.

On a IQ scale of 100 i give you a 0.

Do some research before you post another stupid question like this .

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The problem with Marx is that while he was brilliant, governments never want to really adopt his policies. They end up just pretending at Marxism and running a dictatorship.

Since Obama loves Karl Marx- they are about even- both loons!

Great research. That was really eye-opening. Obama really doesn't know much at all it seems. He is good at preaching to the choir though, but he has trouble understanding that many have stopped singing.

That's like asking who is better at basketball, Michael Moore or Joe Peschi