Posts Tagged: Karl Marx
4

We Can't Spend Ourselves Rich Anymore

"Borrowing sustained the mass consumption model for a few decades. Non-rich households borrowed to buy cars, buy food, pay medical bills, buy ever-more-expensive houses, and so on. Conveniently, rich households had plenty of spare cash to lend them. That model broke apart in 2008 and has not — and cannot — be revived."

7

What Did Karl Marx Predict?

Here's a terrific piece by John Lanchester on what Karl Marx got right, what he got wrong, and what he managed to get right even by being wrong.

4

For Discussion: Was Karl Marx Right?

Since the fall of the Berlin Wall, "events have followed Marx's closer predictions almost uncannily: globalisation, privatisation, deregulation, the undermining of democracy, the triumph of a capitalist discourse (railway 'customers' rather than 'passengers'), the decline of socialist ideology, and a succession of capitalist crises, each worse than the last – but none of them as yet showing any sign of being the last. Come back Karl; all is forgiven. You were right. (Up to 'the revolution', that is.)"