Three Things Karl Marx Got Mostly Right, Hindustan Times

In the course of doing two degrees in economics I was taught to regard Karl Marx as, in the words of the Nobel Laureate Paul Samuelson, a ‘minor post-Ricardian’. His labour theory of value was rejected by my teachers; and his predictions about the immiserization of the proletariat and the imminent death of capitalism appeared to have been falsified. However, I then went on to to study sociology and history, where I was obliged to take Marx seriously. For, in these domains, his ideas and insig...