Karl Marx Was Right Debate

In the wake of the 2008 housing mortgage crisis, many experts wondered if capitalism was starting to show signs of crumbling under the weight of its own systemic contradictions. In this debated hosted by Intelligence Squared, two sides spar with each other over whether or not we should revisit some of communist political philosopher Karl MarxвЂ™s ideas for a solution. On the pro-Marx side, we hear from Tristam Hunt, Robin Blackburn and others, who point to globalization, a growing divide between the rich and poor, and the willingness of governments to bail out bad banks as chief reasons to conclude capitalism is on the brink of collapse. To counter their view, George Magnus is joined by former Marxist Judith Shapiro to defend the coping mechanisms built in to capitalism that have allowed it to weather the occasional economic disruption, arguing that the most recent crisis should be looked at as more of a painful period of adjustment as the world shifts from one technological age to the next. This full debate is available on YouTube.

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