The Forgotten Marx

July 21, 2008

Art Carden has this at Division of Labour.  Personally, I would rather the little neo-revolutionaries be marginalized completely.  However, I must concede that understanding the past is imperative to correcting and preventing mistakes in the future.  It should be noted that Marxian thought in all its strains is a perfect illustration of unintended consequences in action.  We should keep this in mind when those around us desire Utopia. 

My undergraduate comparative economic systems professor referred to Marxian economics as having been “stillborn.” Thomas Sowell correctly points out that “there is no major premise, doctrine, or tool of analysis in economics today that derived from the writings of Karl Marx” and quotes Paul Samuelson’s assessment of Marx as “a minor post-Ricardian.”

Indeed

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