On Your Marx
The first intellectual consequence of the economic crisis was to undermine neoliberalism—or the belief in the sufficiency of markets to secure human welfare—as the age’s default ideology. The second was to prompt a hasty resurrection of Keynes. With luck, the next intellectual consequence of the crisis will be to pry the lid off Marx’s tomb, since it is only from a Marxian standpoint that the recent credit bubble can be understood in terms of the structural problems it affected to solve as well as those it has created.
(repost from last June)
