Marxist Fundamentalism

As much as things have changed since Karl Marx’s time, his fundamental insights about the nexus of labor, exploitation, and profit remain the best guide to understanding capitalism and capitalist crisis. Theorist have come and gone, spinning elaborate revisions or alternatives based upon concepts of under consumption, over production, imbalance, disequilibrium, etc. Many have found in changing features of capitalism - like monopolization, automation, vertical integration, de-centralization, chip and robot innovation, globalization, financialization, etc - the altering of the logic of capitalist production and its inclination to dysfunction. Still others have seen changes in ownership and management relations as changing the dynamics of capitalist accumulation. While all of these reflect truths and useful perspectives, they miss or obscure the engine that drives all capitalist processes: the pursuit of profits through the exploitation of labor by the capitalist enterprise.

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