3 ms·
Marx predated the marginal revolution, dying two years before Marshall published Principles of Economics. Marx was trying to make steel from clay. He was a bri
by jacques_chester 7y ago
Marx predated the marginal revolution, dying two years before Marshall published Principles of Economics.
Marx was trying to make steel from clay. He was a brilliant and original thinker, but his theories didn't pan out. The crises he predicted do not follow the form he described, the revolutions which succeeded were not in the countries he predicted, the inexorable laws of history turned out to be very exorable after all.
His main contribution since the late 19th century has been as an anchor to progressive economic thinking.