Political Theory

Is the bottom line really chapter 32, in part VIII of volume one?

Oxford’s Niall Ferguson thinks that Marx’s thoughts about crisis prone capitalism should be given more attention in light of the not so recently past days of “CEOcracy” and increased income inequality in the US.

But today, Ferguson claims, the class struggle is not waged between workers and owners but between ordinary shareholders and their CEO and controlling oligarchs, so the Marxian acculmulation theory could have a point. In the end, he somewhat loses track and the article becomes more of a summary of recent estimates of American growth prospects. And he never tells us what the consequences could be if the analogy were correct.

But anyway. Could it be true? Could Marx be headed for big comeback in the digital age? I am very sceptical. Altough I do think that he has created a scary seductive beast whose feared return will likely scare this planet for some decades to come.