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TV review : Masters of Money: Karl Marx
Andy Beadle and Steve Glennon
BBC Two: Masters of Money: BBC Economics Editor Stephanie Flanders examines one of the most revolutionary and controversial thinkers of all: Karl Marx, photo BBC Stephanie Flanders concluded her BBC TV series Masters of Money by looking at Karl Marx, "capitalism's severest critic". Often "refuted", his ideas just won't go away!
The deep crisis of recent years and their lack of answers has led some economists to read for themselves what he really said.
Former International Monetary Fund chief economist and now a University of Chicago professor, Raghuram Rajan, said Marx was right on a number of dimensions including social inequality.
The senior economic advisor at UBS, George Magnus, said: "Anyone from Chelsea or Chelmsford who thinks Marx is only about communism is in for a shock because it is what Marx said about capitalism that rings so true today."
Flanders commented: "Marx said capitalism is inherently unstable and would lurch from crisis to crisis and society would become increasingly unequal".
Marx saw capitalism as fundamentally flawed: the problem wasn't how to improve it but to replace it with a new type of society.
He saw how different forms of society - like slavery and feudalism - had been overthrown when they no longer enabled economic progress. Capitalism isn't eternal either.
The programme showed Marx developed a comprehensive analysis of the shortcomings of the profit system while it was still in its infancy. But it repeatedly claimed he said little about what could replace it.
In fact Marx spent much of his time trying to build and unite the workers' movement. He followed international developments and commented on strategy and tactics.
In this programme, Marx's followers were shown to be academics: Martin Jacques, former editor of Marxism Today, professor David Harvey, City University of New York, Tariq Ali, New Left Review, and New Labour MP Tristram Hunt.
Comments also came from former Tory chancellor Nigel Lawson and Bank of England Governor Mervyn King.
But nothing from "the 99%": those who suffer the personal consequences of debt, poverty and unemployment, who are increasingly moving into struggle, as Marx predicted.
In this issue
Socialist Party news and analysis
 Tories promise more pain... Kick out the 'nasty party'!
Labour Party conference - not fighting austerity
Arguing the case for a 24-hour general strike
Birmingham Tory conference demo
'Millions crying out for leadership and for an alternative'
Anti-austerity candidates selected for November contests
No welfare cuts
Health workers must fight attacks on jobs and pay
Politicians line up to attack abortion rights
The hidden homeless - "Sofa surfing is my lot"
Them & Us
Transport feature
Send the transport privatisers packing
International socialist news and analysis
Venezuela presidential election
Greece: escalating the action against austerity
South Africa: 'What are we doing about this government that is killing us?'
Socialist Party reports and campaigns
Why we're marching on 20 October
More success for Socialist Students
Save East Midlands ambulances
Campaign Kazakhstan: A musical and political evening
Youth Fight for Jobs and Education fortnight of action 13-27 October
Dewsbury fights health service cuts
Waltham Forest: Parents and staff unite against school sell-off
Sunderland anti-fascists stand up against divisive EDL
Socialist Party workplace news
South Wales bus workers receive strong support for strike
Fighting the construction industry blacklist
Workplace nurseries saved in HMRC
Leeds solidarity with Crossrail battle
Mid Yorkshire Health admin staff ballot for strike
Bin workers' strike threat
Workplace news in brief
Marxism
TV review : Masters of Money - Karl Marx
Marx was right!
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