Tuesday, September 20, 2011

More Marx

Now Businessweek of all places is arguing Marx is relevant again, even if his ideas are flawed.

As misguided as Marx was about many things, and as pernicious as his influence was in places like the U.S.S.R. and China, there are pieces of his (voluminous) writings that are shockingly perceptive. One of Marx’s most important contentions was that capitalism was inherently unstable...

But wait. What Marx and his acolytes underappreciated was capitalism’s power to heal itself. It may have been his fatal intellectual mistake

I think this just shows all the more clearly we need to rethink the economy in the 21st century, not go back to the 19th century

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