Mark Steel: So Karl Marx was right after all – Mark Steel, Commentators – The Independent


Mark Steel in The Independent: So Karl Marx was right after all. Steel is fascinated that the newspapers have been citing Marx in relation to the current slump (like this article in The Times, for example Or this one).

Sales of Marx's Capital are at an all-time high, and this can't just be due to the current rage against characters such as Fred Goodwin and his merry bonus. It must also be because Marx fathomed that under capitalism, boom and slump would remain a perpetual cycle, as opposed to those such as Gordon Brown, who said once an hour for five years, “We have abolished boom and bust”, a theory which is now in need of a minor tweak.