Alfred Jules Aver's induction and Marxian historical evolution: It's lessons for the current economic global crisis

Abstract

The current issue of global economic meltdown has become one of those incidents in history that demands a serious attention by all and sundry especially for the "minds of the society", Many philosophers, social and political theorists like Aristotle. Thomas Hobbes, Machiavelli and others in the past, reacted to so many existential situations which posed problems during their own time. Some even went as far as trying to understand the trend which historical events follow. The present state of things avails mankind the opportunity to have a rethink about himself and reconsider the postulations of such giants as Marx who once stated that, the economy of the state is the substructure upon which the superstructure (the society) is built. What then is the root cause of the global financial meltdown? It worked before, it is working now, does it really tell us how tomorrow will be? Life has posed itself as a difficult phenomenon in the face of such crisis as this. In this article, we tried to bring out induction merged with emotivism as foreclosed by A.J. Ayer in a bid to understand human nature and then taking it as a rethought of his existential realities. Economic liberalism, political manipulation and gross capitalism have been given as the major causes of the present situation in the world economy. It is on this touchstone that we tried to examine the Marxian theory of Historical evolution which led us to posit the different suggestions as regards the cause of the present economic meltdown. After an x-ray of all these, the next question of interest here is the way forward.