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Robert Heilbroner

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Marx did not call for an opposition to the forces of history. On the contrary he accepted all of them, the drive of technology, the revolutionizing effects of democratic striving, even the vagaries of capitalism, as being indeed the carriers of a brighter future.
--
Chapter I, Part 8, The Marxian Blow, p. 41

 
Robert Heilbroner

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In the realm of ideas in general, the Marxian vision -- including his theory of history -- has not only dominated various fields at various times, it has survived both the continuing prosperity of capitalism and the economic debacles of socialism. It has become axiomatic among sections of the intelligentsia, impervious to the corrosive effects of evidence or logic. ¶ But what did Marx contribute to economics? Contributions depend not only on what was offered but also on what was accepted, and there is no major premise, doctrine, or tool of analysis in economics today that derived from the writings of Karl Marx. There is no need to deny that Marx was in many ways a major historic figure of the nineteenth century, whose long shadow still falls across the world of the twenty-first century. Yet, jarring as the phrase may be, from the standpoint of the economics profession Marx was, as Professor Paul Samuelson called him, "a minor post-Ricardian."

 
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I don't think any of us can do much about the rapid growth of new technology. A new technology helps to fuel the economy, and any discussion of slowing its growth has to take account of economic consequences. However, it is possible for us to learn how to control our own uses of technology. The "forum" that I think is best suited for this is our educational system. If students get a sound education in the history, social effects and psychological biases of technology, they may grow to be adults who use technology rather than be used by it.

 
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Well I came across Marx rather late in life actually, and when I read him, two things: first of all I realised that he'd come to the conclusion about capitalism which I'd come to much later, and I was a bit angry he'd thought of it first; and secondly, I see Marx who was an old Jew, as the last of the Old Testament Prophets, this old bearded man working in the British Library, studying capitalism, that's what 'Das Kapital' was about, it was an explanation of British capitalism. And I thought to myself, 'Well anyone could write a book like that, but what infuses, what comes out of his writing, is the passionate hostility to the injustice of capitalism. He was a Prophet, and so I put him in that category as an Old Testament Prophet.

 
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[M]odern capitalism has managed to avert, without changing its fundamental characteristics, practically all the consequences which Marx predicted would result from the basic contradiction between the forces and the relations of production. […] Marx predicted an increasing frequency and gravity of "realization" crises, a spectacular decline of the rate of profit, rising unemployment, Verelendung [impoverishment] of the working class, etc., culminating in an increasingly bitter class struggle that would eventually lead to the overthrow of the entire system by a proletarian revolution. These developments would demonstrate, according to Marx, that production for private gain is inherently contradictory rather than merely the cause of some, in principle resolvable, conflicts and problems. Now, none of these predictions (except perhaps a certain amount of economic concentration) has actually occurred […] there is no independent evidence, apart from Marx's word, to support the claim that capitalism remains contradiction ridden.

 
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