Theres a lot of talk of Karl Marx in the air these days – from Rush Limbaugh accusing Pope Francis of promoting pure Marxism to a Washington Times writer claiming that New York City Mayor Bill de Blasio is an unrepentant Marxist. But few people actually understand Marxs trenchant critique of capitalism. Most people are vaguely aware of the radical economists prediction that capitalism would inevitably be replaced by communism, but they often misunderstand why he believed this to be true. And while Marx was wrong about some things, his writings (many of which pre-date the American Civil War) accurately predicted several aspects of contemporary capitalism, from the Great Recession to the iPhone 5S in your pocket.
Posted on: Mon, 03 Feb 2014 22:05:02 +0000
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