NYT: Was Marx Right?


Room for Debate: Was Marx Right?

Debate by The New York Times, March 30 2014.

In the golden, post-war years of Western economic growth, the comfortable living standard of the working class and the economy’s overall stability made the best case for the value of capitalism and the fraudulence of Marx’s critical view of it. But in more recent years many of the forces that Marx said would lead to capitalism’s demise – the concentration and globalization of wealth, the permanence of unemployment, the lowering of wages – have become real, and troubling, once again.

The fall of communism discredited Marx’s political vision. But, as observers have wondered before, is his view of our economic future being validated?

For the discussion, see The New York Times, Was Marx Right?, March 30 2014.

(Emphasis added)