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YAHOO.Shortcuts.headerID = "becf1dc805d70e2741f886a4131d6db9";
://www.newyorker. com/archive/ 1997/10/20/ 1997_10_20_ 248_TNY_CARDS_ 000379653
John Cassidy, The Next Thinker, "THE RETURN OF KARL MARX," The New Yorker,
October 20, 1997, p. 248
Keywords
Capitalism;
Communism;
Economics;
Marx, Karl
THE NEXT THINKER about Karl Marx's influence as an economist... Writer was
talking with a college friend who now worked at a big Wall Street investment
bank... To my surprise, he brought up Karl Marx. "The longer I spend on Wall
Street, the more convinced I am that Marx was right," he said. I assumed he was
joking. "There is a Nobel Prize waiting for the economist who resurrects Marx
and puts it all together in a coherent model," he continued, quite seriously.
"I am absolutely convinced that Marx's approach is the best way to look at
capitalism."
I didn't hide my astonishment. We had both studied economics during the early
eighties at Oxford, where most of our teachers agreed with Keynes that Marx's
economic theories were "complicated hocus-pocus" and Communism was "an insult
to our intelligence. " The prevailing attitude among bright students of our
generation was that Marx's arguments were fit only for polytechnic lecturers
and aspiring Labour Party politicians. .. More than fifty years ago, Edmund
Wilson noted that much of Marx's prose "hypnotizes the reader with its
paradoxes and eventually puts him to sleep." The passing decades have not made
the going any easier. Marx was ludicrously prolix... The writer gradually began
to understand what his friend meant. In many ways, Marx's legacy has been
obscured by the failure of Communism, which wasn't his primary interest.
In fact, he had little to say about how a socialist society should operate, and
what he did write, about the withering away of the state and so on, wasn't very
helpful--something Lenin and his comrades quickly discovered after seizing
power... When Marx wasn't driving the reader to distraction, he wrote riveting
passages about globalization, inequality, political corruption, monopolization,
technical progress, the decline of high culture, and the enervating nature of
modern existence--issues that economists are now confronting anew... Marx was
born in 1818, and died in 1883... Marx wasn't a crude reductionist, but he did
believe that the way in which society organized production ultimately shaped
people's attitudes and beliefs. Capitalism, for example, made human beings
subjugate themselves to base avarice... "Globalization" is the buzzword of the
late twentieth century, on the lips of everybody from Jiang Zemin to Tony
Blair, but Marx predicted most of
its ramifications a hundred and fifty years ago...
Globalization is set to become the biggest political issue of the next
century... In one way, Marx's efforts were a failure. His mathematical model of
the economy, which depended on the idea that labor is the source of all value,
was riven with internal inconsistencies and is rarely studied these days....
One important lesson Marx taught is that capitalism tends toward monopoly--an
observation that was far from obvious in his day--giving rise to a need for
strong regulation.. .. Likewise endogenous-growth theory models are undoubtedly
Marxist in spirit, since their main aim is to demonstrate how technical
progress emerges from the competitive process, and not from Heaven, as in the
neoclassical model.
Describes Marx's "theory of immiseration" which says that profits would
increase faster than wages, so that workers would become poorer relative to
capitalists over time, and this is what happened during the last two decades.
Inflation-adjusted wages are still below their 1973 levels, but profits have
soared. ... A key question for the future, the answer to which will determine
the fate of the soaring slock market and much else, is whether capital can hold
on to its recent gains. Writer visits Highgate Cemetery, where he visited
Marx's grave... Perhaps me most enduring element of Marx's work is his
discussion of where power lies in a capitalist society. This is a subject that
economists, with their fixation on consumer choice, have neglected for decades,
but recently a few of them have returned to Marx's idea that the circumstances
in which people are forced to make choices are often just as important as the
choices... Marx, of course, delighted in
declaring that politicians merely carry water for their corporate paymasters..
. The sight of a President granting shady businessmen access to the White House
in return for campaign contributions would have shocked him not at all. Despite
his errors, he was a man for whom our economic system held few surprises. His
books will be worth reading as long as capitalism endures.
The New Yorkers archives are not yet fully available online. The full text of
all articles published before May, 2006, can be found in The Complete New
Yorker, which is available for purchase on DVD and hard drive. Many New Yorker
stories published since December, 2000, are available through Nexis. Individual
back issues may be purchased from our customer-service department at
1-800-825-2510.
Satrio Arismunandar
Executive Producer
News Division, Trans TV, Lantai 3
Jl. Kapten P. Tendean Kav. 12 - 14 A, Jakarta 12790
Phone: 7917-7000, 7918-4544 ext. 4023, Fax: 79184558, 79184627
http://satrioarismunandar6.blogspot.com
http://satrioarismunandar.multiply.com
"Perjuangan seorang mukmin sejati tidak akan berhenti, kecuali kedua telapak
kakinya telah menginjak pintu surga." (Imam Ahmad bin Hanbal)
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