Friday, May 04, 2018
The Rehabilitation of Marx. Happy 200th, Karl!
I first encountered the Communist Manifesto in officer school. I understood almost none of it but I discovered that dismissing it as "Commie crap" was enough for a passing grade. Small mercies.
It was almost seven years ago that I posted a Wall Street Journal interview with American economist, Nouriel Roubini, in which he maintained that Marx has been proven right, capitalism will destroy itself through the destructive transfer of income from labour to capital leading to an economic death spiral.
In recent years there's been something of a consensus built around the idea that Marx may have been radical but he was probably right. Today's New York Times has a feature op-ed, "Happy Birthday, Karl Marx. You Were Right!"
Even though Karl and his kin rest in north London's Highgate Cemetery, for most of his dirt nap he's been scorned as a subversive, a threat to the natural order of free enterprise. It's nice to see him rehabilitated. After all, it looks like he was right.
"Workers of all lands unite" indeed.