The chief problem that Marxists face is their misidentification of the present economic system as free market capitalism. How can we meaningfully call a system where the price of money is controlled by the state a free market? How can we meaningfully call a system where financial institutions are routinely bailed out a free market? How can we meaningfully call a system where upwards of 40% of GDP is spent by the state a free market? How can we call a system where the market trades the possibility of state intervention rather than underlying fundamentals a free market?
I’m not sure that Marxists have ever understood capitalism; Das Kapital is a mammoth work concentrating on many facets of 19th Century industrial and economic development, but it tends to focus in on obscure minutiae without ever really considering the coherent whole. If Marxists had ever come close to grasping the broader mechanisms of capitalism — and if they truly cared about democracy — they would have been far less likely to promulgate a system based on dictatorial central planning.
July 5, 2012
Guest Post: Is Marxism Coming Back?
[As I said after reading the Communist Manifesto, “The typical two year old child or even the family dog wouldn’t accept the conclusions unless they were forced into compliance.”
Marxists are either profoundly ignorant or profoundly evil. In either case I believe it is intentional. I suspect most fall into the ignorant category (also known as “useful idiots”) but the those in the latter category have a high probability of obtaining all the power.—Joe]