Marx Redivivus

Well, here we go again. The markets stumble after fifty years of astonishing prosperity and the wild-eyed Marxist prophets immediately emerge from hiding.

Now I’m not going to indulge in vulgar polemics against Marx, whom I consider an epochal genius, but I think The Guardian ends on just the right note:

But for those not quite ready to immerse themselves in Marxist theory, Marx’s correspondence to Friedrich Engels at the time of an earlier U.S. economic crisis makes more entertaining reading. “The American Crash is a delight to behold and it’s far from over,” he wrote in 1857, confidently predicting the imminent and complete collapse of Wall Street.