Was Karl Marx right? | The Economist

Karl Marx is often described as one of the greatest thinkers
of the 19th century. His writings have inspired revolutions, and generated centuries of fierce debate. Born in Prussia, now Germany, in May 1818, Marx
believed that capitalism, which was in its infancy at
the time, had serious flaws. Marx claimed that in pursuit of profit, capitalists would encourage their ideology that work is good, leisure is bad, and material things will make us happy. Embracing mass production, depriving workers of job satisfaction. At the same time, exploiting
the working class. He became involved in
the Communist League, a small group of intellectuals who wanted to abolish the class system
and spread wealth equally. Marx wrote The Communist Manifesto in 1847, with his
benefactor Friedrich Engels, laying out the Marxist vision of a society where wealth is distributed evenly. Property is owned publicly,
and education is free for all. But Marx was little-known
and little-read at the time. When he died in 1883, only 11 people attended his funeral. After his death, his ideas flourished. Based on the theory of
Marxism came communism, the realization of a stateless
society where all are equal. Communism became a global movement, but the utopian ideal of a fair and equal society failed to materialize. Communism tyrannized and
impoverished it subjects. And slaughtered them in the tens of millions. Today, capitalism dominates the world. But many of Marx’s criticisms
have never been more relevant. Today, the global disparity between rich and poor is startling. Marx predicted that capitalism would lead to the rich getting richer
and the poor staying poor. He was right. He also predicted that
capitalism would lead to boom and bust economics. Marx predicted that capitalism
would lead to globalization, and that a handful of firms would have huge market dominance. However, Marx underestimated the ability of capitalism to make everybody richer by making products much cheaper. Since the 1980s, the number of people in absolute poverty has
fallen by about one billion. He also got wrong the capacity of capitalism to reform itself
by creating welfare states that redistributed
wealth through taxation. Although there is a
lot to learn from Marx, his solution was far
worse than the disease. At the same time, it can’t be said that today’s capitalism,
dominated by immense inequality and financial crises has triumphed.

  1. Communism never existed in any country in history communist can't win without changing human genes

  2. You don't care about the poor and the working class struggles nowadays.

    This video fails because take for granted 20 century forms of socialism are definitives and capitalism will be forever.

    Marx is still waiting for us in the future.

  3. Max in West Bengal closed 55 thousand factories, in Sweden 8000 registered rape cases. It created bunch of opportunist and huge number of middleman, who are known as social Democrats.

  4. I don't know if they were right, but do know that tomorrow, I will get up, go to work, fake pretend that I'm prospering, get off work, and fiscal situation will not have changed one single bit.
    Communism = Government taking money up front

    Being low wage earner in Capitalistic system = getting paid money first, then having Government and high cost of living strip you of your funds later.

    Broke is broke, regardless of what system living under.

    Odd thing is, the only people really practicing true Capitalism anymore are Cartels, criminals and those in the 'black market'.

  5. Vote for Bernie Sanders 2020
    If he is elected, each American will receive a free copy of…

  6. How come there was no economic meltdown in communist and socialist economies? These things are only associated in Capitalist economies.

  7. Is the question whether his theory was correct? Or is it was he on the political right? The Ricardian economics is really useful.

  8. 3:00 – "it can't be said
    that today's capitalism, dominated by immense inequality and financial crises has triumphed."

    WHAT THE SHIT FUCK HYPOCRITICAL FILTH JUST CAME OUT OF YOUR WHORE MOUTH? Capitalism has done so well that we literally have a Generation of spoiled lazy entitled worthless whiny overweight cunts who get Trig'd at the drop of white person saying something. These morons are the Future of a Failed country that won't fight to save their own lives.

    ZERO people starved to death last year in USA. FUCKING ZERO . What a Dumpster Fire of Nonsense this type of Left Victim-hood cry-bully indoctrination is promoting.

    Capitalism triumphed a long time ago & still does. Yeah, I Said it., Fuck You if think differently. Go Move to a country with ZERO Capitalism & Eat Dirt, moron.
    Got Poor? Work harder & smarter. Lazy Fuck.

    Was Karl MarxNOTHING! He was & still is NOTHING! 11 people showed at his funeral b/c everyone else knew he was a fucking loser. Socialism doesn't Fucking work, neither does a Marxist Economy. You can Fix Capitalism by Fixing Capitalism… not setting it on Fire & replacing it with Pure Nonsense so we can all starve to death.


  9. Karl Marx’s criticisms of capitalism were fairly smart, although his ideas on the solution to capitalism were rather terrible.

  10. This video has some clear lies. Marx NEVER foresaw globalism, just like he never saw the horrors it would lead to in the way of mass murder in the name of Communism: Mao Ze Dong, Stalin, Pol Pot, and others. Also, his claims that Capitalists societies were also doomed to a boom and bust cycle are pitiful when you consider that true Socialists societies are ALWAYS BUSTED! I remember the days back in the early 80’s when visiting pre-capitalist China. I had never been to such a poor country, even when compared to my mother’s home country of Peru during the 70’s. Everyone that I saw about me riding their bicycles (except the party elite) WAS BUSTED. Visiting Yugoslavia before the fall of the Wall was the SAME THING (bread lines, bicycles, and ration stamps). Instead of having a great intellect, Marx has been proven time and time again to have been one of the most self-deceived people who has ever lived, and one of the greatest tragedies in history are that there are so many self-deceived people alive today who still believe his lies and foolishly propagate his culture of poverty and death.

  11. Well, if that can actually come true instead of what had happened. That would be so great.

  12. everyone here is requested to read Marx his books and readings. whether you support or oppose his writings that's a different matter but that reading sure would correct you at many times about which you have been thinking wrong. don't rely on such channels they are providing filtered resources and might be biased. somehow he had been correct that's why he is been taught today in universities

  13. Marx is the end of a beginning which will embrace collaboration between voters of different persuasions; removing elimination from election by introducing political autonomies.

  14. Clearly he knew system flow exceptionally well but he didn't know anything about people. He designed a system because that's what he knew and it would probably work with different data.

  15. I'm not an adherent to this Marxism nonsense, and I believe in free market capitalism (which would be nice to have), but there does need to be a wealth cap instituted, world-wide. It wouldn't be about wealth redistribution, as much as about dilution of power.

  16. No, he's not. Reality is a bitter pill to swallow and a true communist society will never be in fruition. Communism is just being used by individuals or groups in politics to stay in power and in power only. Preventing the common people to achieve their goals while those in power are allowed to strive further simply because they're supposed to be.

  17. Marx was the wisest man that ever lived, his teaching was absolutely correct, and it worked! Socialism did not destroy 1/100 of the numbers of lives capitalism did. Socialism was a society that was maybe less effective in producing Homalayas of consumer goods, but it did not waste world´s resources the way capitalism does. That society could have gone finctioning forever. But some people decided it was high time to steal all the property of the socialist states, all their land, factories, forests – everything. And they did steal it!
    42 people owning as much as 1/2 of the world´s population, and still more wealth concentrating in still fewer hands… How can that end? There will be a global bloodshed where everyone will be killing everyone else. That is the natural course of capitalism.
    Socialism functioned PERFECTLY! Look at the problems capitalism is having now. Is that something that you can boast with over socialism? Life in capitalism is shit, poverty, tragedy, crime, terror. Socialism was a 100 times better, you can take my word for it.

  18. I believe the editor of this video has never been living in 1960s China and current north korean Kim's empire.

  19. He wrote Das Kapital Marx in-which the great thinker proposes that the motivating force of capitalism is in the exploitation of labour , in whose unpaid-work is the ultimate source of surplus value .
    Wage-labour is the basic cell-form trade unit of a capitalist society . Even now Karl Marx philosophy was right and is regarded by many high scholars as the way to go forward with a fairer economic society for all .
    It’s a pity that Lenin , Stalin , Mao didn’t practice Marx way forward in economic thinking .

  20. https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.marxists.org/archive/marx/works/download/Marx_Critque_of_the_Gotha_Programme.pdf&ved=2ahUKEwj55MG3lIHjAhXGW80KHWY1CJcQFjALegQIAxAB&usg=AOvVaw0jwtoo_ROENsI6Qvh0SdVm
    Please read these if you want a more comprehensive overview of Marx's actual beliefs

  21. Who regards Marx as a great thinker? Read the manifesto and Das Kapital. It’s some of the most poorly reasoned and underdeveloped theory I’ve ever read. Marx jumps to conclusions more than that dude from Office Space.

  22. Was Karl Marx right? No. He was wrong. Wrong on just about everything.

    -"Marx was an important and influential thinker, and Marxism has been a doctrine with
    intellectual and practical influence. The fact is, however, that most
    serious English-speaking economists regard Marxist economics as an
    irrelevant dead end." Richard Solow (Nobel Prize winner), The Wide Wide World of Wealth, NY Times March 20, 1988

    – In the realm of ideas in general, the Marxian vision — including his theory of history — has not only dominated various fields at various times, it has survived both the continuing prosperity of capitalism and the economic debacles of socialism. It has become axiomatic among sections of the intelligentsia, impervious to the corrosive effects of evidence or logic.
    But what did Marx contribute to economics? Contributions depend not only on what was offered but also on what was accepted, and there is no major premise, doctrine, or tool of analysis in economics today that derived from the writings of Karl Marx. There is no need to deny that Marx was in many ways a major historic figure of the nineteenth century, whose long shadow still falls across the world of the twenty-first century. Yet, jarring as the phrase may be, from the standpoint of the economics profession Marx was, as Professor Paul Samuelson called him, "a minor post-Ricardian.

    Thomas Sowell, On Classical Econonomics (Yale Univ Press, 2006), p. 186 (Paul Samuelson was another Nobel Prize winning economist)

  23. Marx never underestimated the productive capabilities of capitalism. He just said that there was a better way we can be productive with a social plan instead of the chaos of the market which wastes a lot of resources(expenditure on marketing instead of R&D, turbulent equilbration, over 80% firm failure rate, resource depletion/environmental degradation…)

  24. If you read and understand thoroughly karlmarx theory it is nothing different from Bible. If you read and understand and compare with parables of Jesus 🙏 it is same. But what happens when man gets he forgets divine gift and boost himself he is great. Therefore problems are occuring in human life.

  25. 我认为马克思能很好的把握物与物的关系,但他不能准确完整的把握人与物的关系,原因在于认识论和决定论的局限性!相对论,量子力学,还有熵定律很好的证明,认识论和决定论的局限性,马克思理论是在19世纪出现的,然而这些 相对论,量子力学,还有熵定律是在20世纪。所以这也给马克思带来了认识的局限性。中国的目前很多问题都是人与物的关系,虽然提出了以人为本,但是目前还做的不够好!中国如果很多规则制定的特别不人性化,归根结底就在于马克思主义的过于宣扬的地位,中国想要思想文化的强大,还需要尼采海德格尔还有维特根斯坦!!这些是20世纪后现代哲学体系的重要部分!然而共党很多盲目完全相信马克思,很多地方以人为本做的不够,在普世价值和党性之间的权衡以及人与物质之间的规则制定的马克思化必将给人民带来思想的禁锢与创伤。当然马克思的物与物之间的规则的定制其实比较好的,但是有其局限性,我们必须认识到!盲目的追求秩序只会产生新的混沌,盲目的放任混沌也会产生新的秩序,自由应该是混沌与秩序的平衡点,根据宇宙最高定律熵不减少定律,过度追求秩序只会引来更加激烈的混沌,我从来不担心筑起防火墙,因为这些秩序只会带来VPN之类的我相信未来还有更多的混沌,追求政府控制经济,那么要么自身萎缩要么会有新的进级规则如区块链等新的混沌打破旧的秩序。为什么有些地区禁止大麻反而抽大麻的人会增加,而现在吸烟是合法的现在公共场合吸烟会有人叫你把烟灭了且抽烟的人越来越少。寻找的秩序与混沌的平衡点是解决问题的关键。

  26. Karl Marx was wrong
    Had Marx been capable of conscious thought with some common mathematical ability, he would have quickly realized that the giant collective turd birthed from his ass, was and will always be a delusion doomed to failure.
    Socialism doesn’t work because the math itself doesn’t work, the equation will always be unbalanced and doomed.
    The only thing worse than socialism whore, is a self-enslaving socialism whore.
    It’s a historical fact that big governments ruin
    Socialism, is a disease and the epitome of human stupidity.
    Those who support a disease like this, are nothing, but slaves and whores to it.
    It’s sickening.

  27. Karl wasn’t an economist! He was an ideologist. He was was right with his ideology(maybe) It was Fredrick Engles that was wrong

  28. If we in America use Marxist ideology and state capitalism economics, America will flourish. We do not require a tyrannical upper class to make this country rich. The middle class must be focused on.

  29. propaganda There has never been such a thing as a communist country. And fact is democracy is failing because in it's midst is an undemocratic economic system with the powerful continually attaining more power and subverting the educational and governmental systems.

  30. Who owns this garbage occult gnostic economist and who is charge of all that tarot occult shit you put on your magazines

  31. Thanks to rich people poor people have jobs and have a chance to get ahead in life through hard work. There not a single communist country in history with a good economy and wealth for the people. Capitalism is the only way for a better life. I was born in Cuba and now I live in Miami so I should know better,

  32. Economist Writer: Uh Jesus, what about third world exploitative outsourcing.
    Other Economist Writers: Nope, we only have a three minute video, just say that “everyone be rich” and forget about people who are suffering due to this.

  33. "Dominated by financial inequality"? It doesn't matter how much money some people have if EVERYONE lives a better life. Which they do. People should stop looking at what's in someone else' hands and pay attention to what's in their own hands.

    When I see people protesting about the unfairness of society while waving a $1,000 iPhone I tend to feel no sympathy for them. Just sayin'.

  34. Marx was right, capitalist "rich gains" is only because we exploit third world laborers and poor class service workers by paying unlivable wages. We have made rich corperate assholes richer, and their boot kissers richer, but really the majority of world is diet poor. Capitalism is wrong ,true communism is good. But unfortunately bad people like Stalin missued authoritarianism in his country to make people hate communism, which stained it's reputation. True communism wouldn't be so much authoritarianism, only enough to fix the unfair wealth horsing but not to limit public choices.

  35. Actually, the important, if not the main thing about Marxism is that the history forms the ideas in the peoples minds, not the opposite. So the history of nineteenth century with global industrialisation produced the Marx's theory, the history of twenteeth century with deep economical crysis and the world war produced a revolution in Russia, based on this theory and instigated the revolutional movements all round the world. It determined the socialization of many countries, including the capitalistic, were workers gained many rights and benefits. Today it is obvious, that the world is falling in the new crysis with the rise of nationalistic goverments and failing of globalization. So it is again the time to learn the theory, and to develop a new one, based on what was written by Marx, and done by Lenin, Stalin, Mao and others in the seeking of a new form of society.

  36. TBH Marxism has never truely been tried. Communists all made their own version. Heck in China they found a way to make it work in a more late/collapsing Soviet inspired version. Not to mention Marxism in it's true form is supposed to be done after full capitalism has been achieved and then it may be able to be successful. That being said I am not saying communism is good or capitalism is bad. He was just a philosopher and some of his idea's today thrive in capitalist democratic society and the entire purpose of his philosophy was just to start debates and look at alternatives to what was then a oligarch and elite class dominated society.

  37. The economist is become more and more conservative. MARX only idealised a state economy for countries who had a high level if capitalism. That was his utopian idea, unlike China or the Soviet union who became communist as a poor and underdeveloped economies

  38. Karl Marx, the person that invented the most murderous ideology the world has ever seen it makes hitler look like a kitten in comparison and you take him seriously, maybe we should also start teaching Mein Kampf in schools why not, seems like less dangerous.

  39. It seems to me that the author of this video has not studied Marx properly. The Marx of the political programme and pamphlet called Manifesto did claim that capitalism would lead to an increasing absolute impoverishment but the older

    Marx did not. That the standard of living of the working class increases within capitalism does not contradict Marx’s theories. Instead, we can, I think, use parts of his theoretical work to understand such phenomena. In his scientific studies "Das Kapital" (volume 1) we can find the theory of relative surplus value. One can use it to understand to some extend and on a very basic level what happened during the period of flourishing Fordism (Taylorism, mass production by using production lines, lower prices, mass consumtion, higher wages and so on) which was one crucial element of the miraculous capitalism in the advanced capitalist countries in Western Europe and North America after World War II with growing profits, higher wages and stronger welfare states and so on.

    Here I can, of course, only note some important elements:

    (1) competing commodity producers of the same branch of production have to try to reduce costs and above all to invest in new technologies which enable them to increase the productivity of their means of production, so that they can sell at or beneath the average price while bearing less costs than their competitors in order to make some extra profit
    (2) if all commodity producers of the same branch of production have the new technology, the average amount of labour which is necessary to produce the commodity decreases and so does the value and price of the commodity in question
    (3) if such a development affects, for instance, the production of many of the commodities consumed privately by the working class members, the value of the labour force decreases as well, since the average salary tends to cover the value of the commodities that count as necessary for the reproduction of the labour force.
    (4) the remaining commodity producers with the new technologies use more means of production (increased c/v-rate) and have an increased surplus value rate (s/v).
    (5) Salary decreased, so now it takes the average worker less time to produce the value of his labour force, that is, to produce the value represented by his salary. Now the worker produces more surplus value/profit taken by the productive capitalist.

    We can get this:
    the producing capitalist can make more profit, wages decrease and the value of the commodities consumed by the working class has decreased, too. If the state or the working class – or in some cases the capitalists themselves – manage to increase the wages a little and to reduce the hours of the working day, we can imagine a scenario in which capitalists make more profit and the standard of living of the working class increases.

  40. I think Marx and Engels did not underestimate the role of the state in fighting impoverishment. We can borrow from Engels the notion of the state acting as an ideal total capitalist (ideeller Gesamtkapitalist). The state is, of course, not a real capitalist but it has to make sure that certain conditions are fulfilled so that capital can flourish. This could mean financing a traffic infrastructure or a digital infrastructure, providing schools for the education of the citizens, constructing a state bank system and so on. This is something the typical single capitalist cannot do. If the state did not do that, its economy would flourish less and the state would get less taxes which means a reduced capacity to take an active role – and it would have to pay a lot in order to support jobless citizens.

    Acting as an ideal total capitalist can mean to protect the working class and to take measures which may violate the interests of some capitalists or even the capitalist class as a whole. This could mean reducing child labour or the hours of the average working day and so on in order to ensure that exploitation remains possible in the long run. Otherwise, the working class could be dramatically reduced and its reproduction endangered and no working class means no growing capital. The English state, for instance, reduced child labour to guarantee that there will be future citizens that can become soldiers of the state. The long and hard work simply put too much strain on their bodies so that they could not become soldiers.

    Keeping that in mind, one can be critical of the welfare state, too. It is by no means a total anti-capitalist thing. Unemployment insurances, for instance, help keeping the non-working labourers alive. This can turn out to be quite useful because some companies might grow and really need them in the future. Furthermore, capitalists can benefit from a situation in which many people are unemployed to put pressure on those who do have a job in order to cut wages. Elements of the welfare state can reduce some aggressive impacts of a crisis, for they ensure a certain level of demand and consumtion. Without any support by the state the unemployed masses could not consume at all. That would ruin even more companies and it would lead to a higher unemployment rate.

  41. Well, one can very well say that capitalism has triumphed.

    Inequality and crisis do not hinder us from claiming that. One has to judge a tool by looking whether or not it serves its purpose. Capitalism is not a tool but we should keep in mind that the capitalist mode of production does not aim at that more and more people are living longer and better or that human beings determine in a reasonable way their relation towards nature.

    It is about the growth of abstract value, the maximazisation of profit. In so far it has triumphed and works pretty well. What is a problem for capitalism is crisis because during a crisis capital is hindered from growing (too many commodities or services cannot be sold, too many workers and means of production become useless, invested money cannot grow, too many worthless sheets of paper without dividend or interest an so on). But I suppose that an economic crisis is not a real thread to capitalism, it is a normal moment in the development of capitalism and the tendency towards crisis is an inherent feature of capitalism. It might have destructive aspects like, for instance, collapsing companies and huge unemployment rates but it also means a renewing of the system, since the winners of a crisis can maximize profit better than before and it has a cleansing effect upon the economy because those who could not afford new technologies will be removed from the market.

    I doubt that all regimes which claimed to be communist impoverished their people. The Soviet Union, for instance, lacked a lot of things like democracy, freedom of speech and so on. Nonetheless one has to admit that before the revolution Russia was to a large extend an agricultural economy, little industry, many citizens could not read and in the years of World War I many were suffering from hunger. The Soviet Union took huge measures to enforce an industrialization of the country and to educate its citizens and in the decades after World War II it could provide enough food. One has to take account of the obstacles the state had to face, civil war, World War II, Cold War, embargos and so on which had huge negative effects on the economy.

  42. If any of you are Americans and talking shit about the U.S. and talking about how communism is so much better than capitalism. Then get the FUCK out of this country you lazy piece of shit. I heard people talking about so many people in the U.S. starve and worry about paying rent while the rich get richer. Then what the hell was the millions starving in the USSR called and you cannot tell me that people don’t starve in modern day Russian because that’s bullshit. I’d like to see you work fields for a living. Build your own fucking house. Take care of your own family by farming crops and protecting them from harm. I’d like to see you do that! But no! Capitalism has given you a soft cushy job and protection with law enforcement. And you can all just sit here and bitch about capitalism being a piece of shit. While you didn’t do shit to deserve where you are now! So fuck your communism! If that’s what you want go live in your dirt hole and drink the piss water you deserve with all the other communist!

  43. Government and mega corporation won‘t damage their own interests by reforms. There had to have reforms or there will be a revolution.

  44. The reason why we move jobs to third world countries is because capitalism will always need workers to be step on to maximize profits!..cant do that in our own country! 🤑🤑🤑

  45. Marx: I know what we'll do guys, we'll make EVERYONE EQUAL(ly poor) and call them "owners" pause BAHAHAHAHAHAHA

  46. As long as the contradiction of the capitalism hasn't been solved by any kinds of revolution yet, the craziness of capitalism will not end.

  47. It is sad. So many here believe that communism and socialism is the devil. They make jokes. In groups they strive to laugh but if you question but one they more often than not will have nothing to come with. They can dislike. They can hate. And i know atleast one is reading this. But take a moment to think. Do you really know what you're talking about? Or are you following someone elses words simply cause they've been burrowed into your head? Propaganda exists. In the US. In China. In the UK. Everywhere. The Chinese governments fails and kills are nothing compared to the US warcrimes, murders, discrimination and slavery. Yet not many take stand against it. Think on that good friends.

  48. The theory of marx based on the Neoclassical Economics,it is a mixture of different theory including the part from Keynesian。 A lot of things exist but some guies just wanna to criticize the whole theory to be true or left, it is against the science regulation and makes nosense at all(for example, just like criticize someone as simple as stupid or honest)

  49. Karl Marx was and still is the main ideologist of the vitriolic and rabid communism. Nothing good came from him. It's a folly to even think he brought something good to this world.

  50. The economist will never ever talk Marx to tell the truth, but on the contrary, The economist as of the rest of the capitalist tools will always talk about Marx to distort and divert Marx's artwork. Start reading him everyone, it will undoubtedly change your life perception and make you conceptualise life totally differently.

    “Workers of the World, Unite. You have nothing to lose but your chains!”

  51. This video isnt worthy to watch . It has little-to-no information on its subjects . The comment section , funnly enough , is also pretty dumb . If you have happened to stumble on this comment, be warned that this is a waste of your time.

  52. Ahah the good ideas of capitalism are created by Keynes and now people who have the same ideas are extremist… 🤣

  53. He actually was right, but people are so quick to become slaves for things they don't need, I'm going to destroy this broken system and that's a promise

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