Give Karl Marx a Chance to Save the World Economy: George Magnus
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Aug. 29 (Bloomberg) -- Policy makers struggling tounderstand the barrage of financial panics, protests and otherills afflicting the world would do well to study the works of along-dead economist: Karl Marx. The sooner they recognize we’refacing a once-in-a-lifetime crisis of capitalism, the betterequipped they will be to manage a way out of it.
The spirit of Marx, who is buried in a cemetery close towhere I live in north London, has risen from the grave amid thefinancial crisis and subsequent economic slump. The wilyphilosopher’s analysis of capitalism had a lot of flaws, buttoday’s global economy bears some uncanny resemblances to theconditions he foresaw.