Since the collapse of the Soviet Union the ongoing mantra among conservatives, liberals and libertarians has been that capitalism is the only way to function in a modern society. As I recall, Karl Marx predicted that capitalists were greedy and only concerned withe their own economic interests which meant they would be more than happy to destroy the middle class and create a society in which a small group of wealthy were in control. As one examines modern capitalism, that prediction increasingly describes what is.
In nations like the US and England, the top one percent control about 20% of the wealth and the top 5% control over 40%. Statistics reveal the middle class has been continually declining in wealth over the past twenty years. In other words, exactly what was predicted by Marx is now a reality. Does this suggest that Capitalism is inherently designed for the top five percent while the remaining population lives off crumbs thrown by those above?
Perhaps, it is time to revisit Karl Marx and pose a different question: were his ideas insightful, but placed in the hands of those who never understood him, the result was an economic disaster? After all, isn’t that what happened to the ideas of Jesus Christ?