Sir, – Kevin Ryan (November 22nd) provides an excellent account of what has happened to capitalism post-Marx. However, I would take issue with him when he claims that capitalism is back to working as normal.
The present economic crisis shows that it is not working and the remedies, eg, austerity like in the 1930s depression, as Keynes showed, are only making the situation worse.
Whether Marx was right or wrong the banking crash has led to one kind of revolt, apart from the streets of Athens, that is the revolt going on in the economics departments of British universities where staff and students are challenging the diet of neo-classical economics which is dictating the policies of governments. – Yours, etc,
PATRICK BRADY,
Ingleby Way,
Chislehurst,
Kent, England.