Understanding Marx

Aaron dismisses the study of Marx as useless , but possibly falls into the the tempting trap of reductionism. The study of Karl Marx is more than Communism, which of course is a failure, as mass deaths during communists regimes or the economic under-performance of…

Sorry Marx, Capitalism May Not Be Self-Limiting

From the Wall St. Journal: The Middle-Class Squeeze dire forecasts of Karl Marx… The Marxian prophecy may be wrong because of the Pareto Principle, which is that the richest 20% contribute 80% to consumer spending, while the poorest contribute very little. This means that Capitalism…