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Marx cashes in on capitalism's crisis

With capitalism taking a pretty bad beating over the last few months, the work of its greatest critic, Karl Marx, is being rediscovered.

Apparently, sales of Das Kapital have gone through the roof in Germany as people look for an explanation, and maybe cure, for our current plight.

Publisher Karl-Dietz Verlag says it has sold around 1500 copies so far this year, compared to the 200 odd it normally manages annually.

1500 still seems pretty meager to me and, as the publisher's director has told reporters, most buyers are unlikely to have even made it to the end of this 'challenging' tome.

Marx, of course, claimed that capitalism is doomed as we all march inevitably towards a workers' utopia.

One of our bloggers seems to think the British government is already showing its socialist, if not Marxist, colours whilst German finance minister, Peer Steinbruck recently told Der Spiegel: "Generally one has to admit that certain parts of Marx's theory are really not so bad."

Maybe the revolution is on its way and the oppressed proletariat - armed with their newly acquired but unread copies of Das Kapital - will rise up against the bourgeoisie at the top of the banking world.

Then again, maybe not.

Today's Times has an interesting piece on Marx and the financial crisis.

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A Finextra member
A Finextra member 22 October, 2008, 09:18Be the first to give this comment the thumbs up 0 likes

Marx erred as he did not foresee the flexibility of capitalism. So Marxism is dead and maybe Thatcherism is to follow. But capitalism - not only driven by greed, but also influenced by democracy and ethic demands raised by many good people - is quite likely to take yet another turn, similar to the New Deal era.   

Matt White

Matt White

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Finextra

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