Reflections on Karl Marx and Capitalism

Here is a series of interesting posts on the relevance of Karl Marx by noted economist and UC Berkeley Prof. Brad Delong and very interesting comments his posts on Marx have elicited. Students in my campus are equally attracted to Marxian thought. We even have the main square on the campus named Red Square.  Although students are less and less taken in by the complexity of Marxian thought.  They revert to reflexive criticism of modern capitalism, particularly globalization and corporate capitalism.  More than anything else I am extraordinarily tired of students believing that somehow “centralized state socialism” has provided all the answers and that Cuba has a great health-care system.  Why don’t they fly to Cuba to get their major medical ailments fixed?  Why head to Mass General?  I will answer this another day.But, for now let us turn to Karl Marx. Now, I am not going to say anything about Karl Marx himself, but turn you to the post by Prof. Brad Delong.