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History, capitalism, and Marx

May 8, 2013

If historians are putting more focus on economic history, as this article claims, that is a good thing for both historians and economists. Economics still is a field whose models seem too far abstracted from the reality it tries to study.

As are discussions of economists. Which makes interesting a new biography of Marx that tries to root him in his time, rather than damning him for the movement he started. I’m less inclined than the reviewer to excuse ideologues for the historical wake they leave, even if they don’t foresee the consequences. We need more, not less, social aversion to new ideology. Brad DeLong writes on what Marx got right and where he went wrong.

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