Marx's Revenge: The Resurgence of Capitalism and the Death of Statist Socialism

In "Marx's Revenge" the distinguished economists Meghnad Desai argues that capitalism's recent efflorescence is something Karl Marx anticipated and indeed would, in a certain sense, have welcomed. As Marx understood it, capitalism would only reach its limits when it was no longer capable of progress. The author argues that globalization, in bringing the possibility of open competition on world markets to producers in the Third World, has proved that capitalism is still capable of moving forward. "Marx's Revenge" opens with a consideration of the ideas of Adam Smith and Hegel, and proceeds to look at the nuances in Marx's work, concluding with a survey of more recent economists who studied capitalism including Joseph Schumpeter, John Maynard Keynes and Friedrich Hayek