Karl Marx Was Right

On Saturday at the Left Forum in New York City, Chris Hedges joined professorsRichard Wolff and Gail Dines to discuss why Karl Marx is essential at a time when global capitalism is collapsing. These are the remarks Hedges made to open the discussion.

Karl Marx exposed the peculiar dynamics of capitalism, or what he called “the bourgeois mode of production.” He foresaw that capitalism had built within it the seeds of its own destruction. He knew that reigning ideologies—think neoliberalism—were created to serve the interests of the elites and in particular the economic elites, since “the class which has the means of material production at its disposal, has control at the same time over the means of mental production” and “the ruling ideas are nothing more than the ideal expression of the dominant material relationships … the relationships which make one class the ruling one.” He saw that there would come a day when capitalism would exhaust its potential and collapse. He did not know when that day would come. Marx, as Meghnad Desai wrote, was “an astronomer of history, not an astrologer.” Marx was keenly aware of capitalism’s ability to innovate and adapt. But he also knew that capitalist expansion was not eternally sustainable. And as we witness the denouement of capitalism and the disintegration of globalism, Karl Marx is vindicated as capitalism’s most prescient and important critic.