Was Karl Marx right?

The usual suspects are quick to blame the current economic crisis on the free market. Using his typical backwards logic, Noam Chomsky says that the current crisis demonstrates anti-democratic nature of financial system.

The Times Online has a poll asking Did Karl Marx get it right?. Over 46% of respondents said yes. Apparently, in Britain, dog-eared copies of Das Kapital are flying off the shelves.

Newsweek slavers about how the economic crisis and Obama’s presidency could usher in a new ‘progressive’ era.

But before all you progressives out there break into your choruses of l’Internationale, think for a moment about Iceland.

Yes, Iceland, that bastion of progressive ‘equality’, that pacifist, feminized feminist nation; A socialist paradise where all men are good-looking, all dottirs are matriarchs and all children are above average. Iceland, where warmongering is unthinkable, where all bask in the free, independent energy provided by geothermal resources.

This shining beacon of socialist success took its regulated banking system, and, like a drunken housewife in Vegas, bet everything on lucky seven.

They got snake eyes. Now this beacon of progressive purity is literally facing bankrupcy.

No, Karl Marx wasn’t right, and yes there are such things as dumb questions.

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About marypmadigan

Writer/photographer (profession), foreign policy wonk (hobby).
This entry was posted in finance. Bookmark the permalink.

One Response to Was Karl Marx right?

  1. Pingback: » Was Karl Marx right?

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