Marx's Economics and Lord Desai's "revenge": A response to the book "Marx's Revenge" by Meghnad Desai - Part Three Economists, with outstanding exceptions such as Marx, have usually set out to glorify capitalism. They tend to conclude that it will automatically produce full employment and increasing prosperity – so long as nobody messes about with its workings. That is the outlook of monetarism. But Marxists believe that Keynesianism doesn’t work either. It doesn’t work because capitalism can’t be made to work. The problem of capitalism in crisis is not just a matter of inadequate demand - of markets - it’s a problem of profitable markets.
Marx's Economics and Lord Desai's "revenge": A response to the book "Marx's Revenge" by Meghnad Desai - Part Two Marxists believe that the principle contradiction of the capitalist system is between the increasingly social nature of production it opens up and develops, and the retention of private appropriation. This is a very general proposition, which will be enlarged on and explained throughout this article.
Marx' Economics and Lord Desai's "revenge": A response to the book "Marx's Revenge" by Meghnad Desai - Part One Meghnad Desai has published a book, Marx’s Revenge in which he poses a fundamental question for Marxists – could capitalism go on for ever? The short answer to this is that capitalism will last until such time as it is overthrown through socialist revolution, conscious action by millions of people. So the question needs to be reformulated: is socialism on the agenda? If capitalism is a flawed system, as we argue, then it will offer endless opportunities for its overthrow. Desai, on the other hand, seems to argue that a crisis-free future is possible for capitalism. Talk of socialism is therefore premature. Mick Brooks argues the case for socialism in the twenty-first century.
