Marx's Revenge PA

In thisprovocative and enthusiastically revisionist book, the distinguishedeconomist Meghnad Desai argues that capitalismrs"s recent efflorescenceis something Karl Marx anticipated and indeed would, in a certainsense, have welcomed. Capitalism, as Marx understood it, would onlyreach its limits when it was no longer capable of progress. Desaiargues that globalization, in bringing the possibility of opencompetition on world markets to producers in the Third World, hasproved that capitalism is still capable of moving forwards.Marxrs"s Revenge opens with a consideration of the ideas of Adam Smith and Hegel. Itproceeds to look at the nuances in the work of Marx himself, andconcludes with a survey of more recent economists who studiedcapitalism and attempted to unravel its secrets, including JosephSchumpeter, John Maynard Keynes and Friedrich Hayek.

Meghnad Desai was Director at the Centre for Global Governance at the London School of Economics. His previous books include Marxian Economics, Applied Econometrics, and India's Triple Bypass