I was raised in a Socialist tradition of thinking and along the way of life departed from the ideas of Karl Marx after witnessing its failure in the Soviet Union and China. However, living in the United States of America, circa, 2012 his ideas increasingly become interesting since Marx actually described what would happen to capitalism. The essence of Marx is that capitalists have only one concern-accumulating more money and power for themselves with minimum wage regards for those who labor in their business establishments. Marx may have uttered this ideas in the nineteenth century but they certainly describe the current economic situation of the United States of America and most capitalist nations of the world.
Marx predicted wealth would increasingly accumulate in the hands of a small number of wealthy and powerful people in society while the remainder increasingly became poorer. That is a perfect description of America which has witnessed the top 5% gain control of 45% of the nation’s wealth while the middle class constantly declines in wealth. Heirs to the Walmart fortune have more money than 100 million Americans. Just as Marx predicted.
Karl Marx did a fantastic analysis of Capitalism, but failed to offer an alternative economic system. Let us remember what he predicted and fight to make his prediction NOT come true!