Bloomberg Op-Ed Author Quotes Karl Marx… Favorably

No, seriously. George Magnus says “Give Karl Marx a Chance to Save the World Economy.” Along with the ritual disclaimers one might expect, Magnus also points out that today’s post-Great-Recession world looks a lot like the one Marx described in Das Kapital.

Here are five major planks of a strategy whose time, sadly, has not yet come.

Magnus then offers five proposals, concluding with this assessment:

We can’t know how these proposals might work out, or what their unintended consequences might be. But the policy status quo isn’t acceptable, either. It could turn the U.S. into a more unstable version of Japan, and fracture the euro zone with unknowable political consequences. By 2013, the crisis of Western capitalism could easily spill over to China, but that’s another subject.

I know MandT will be pleased with Magnus’s article! 🙂

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