John Gray on Marx

An an analyst of capitalism Marx has few rivals. It was Marx who would understood before anyone else the advance of globalization that would render the national economies of the nineteenth century obsolete and destroy bourgeois life as known in the past. Perhaps only the Austrian economist Joseph Schumpeter, writing in the middle of the twentieth century, grasped the revolutionary character of capitalism quite as firmly. Marx perceived that capitalism is an economic system that unsettles every aspect of human life. Not only politics and government but also culture and society are continuously transformed under the impact of the anarchic energies of the market. Movements aiming to free up the market while reinstating 'traditional values' dominated much of late twentieth-century politics. While effectively reshaping society to serve the imperatives of the market, politicians such as Thatcher and Blair wanted at the same time to revive the virtues of bourgeois life. Yet, as Marx perceived, the actual effect of the unfettered market is to overturn established social relationships and forms of ethical life - including those of bourgeois societies.

Marx showed how unreal are all visions of marrying the free market to bourgeois values. Far from being utopian, his account of capitalism is a vital corrective to the utopian visions that have distorted politics over the past generation. It is Marx's vision of the alternative to capitalism that is utopian. Though he understood capitalism better than most economists in his day or ours, Marx's conception of communism was dangerously impractical. Central planning was bound to fail: no one can know enough to plan a modern economy and no one is good enough to be entrusted with the power to govern it. Worse, Marx believed that with the arrival of communism the conflicts of values that had existed throughout history would cease, and society could be organized around a single conception of the good life. It was a belief that was to have disastrous consequences, as will be seen when the Soviet experiment in examined in Chapter 2.

John Gray, Black Mass: Apocalyptic Religion and the Death of Utopia (2008), p. 18-19