Karl Marx has returned, if not quite from the grave then from history’s dustbin, as world leaders call for state-compelled credit provision. But, while the “Marxist” revival was probably an inevitable byproduct of the current crisis, its acolytes should reflect on the uniformly disastrous results of centralized credit provision in the past.
PRINCETON – Karl Marx has returned, if not quite from the grave then from history’s dustbin. German Finance Minister Peer Steinbrück recently said that Marx’s answers “may not be irrelevant” to today’s problems. French President Nicholas Sarkozy allowed himself to be photographed leafing through the pages of Marx’s Das Kapital . A German filmmaker, Alexander Kluge, is promising to turn Das Kapital into a movie.
PRINCETON – Karl Marx has returned, if not quite from the grave then from history’s dustbin. German Finance Minister Peer Steinbrück recently said that Marx’s answers “may not be irrelevant” to today’s problems. French President Nicholas Sarkozy allowed himself to be photographed leafing through the pages of Marx’s Das Kapital . A German filmmaker, Alexander Kluge, is promising to turn Das Kapital into a movie.