The Great Financial Crisis and the Shameful Failure of the Marxist Academy

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It turns out every Marxist academic without exception missed the greatest depression in the last 100 years not just because they ignored Marx’s theory, but because they are completely disconnected from the real world in every real sense of that term. They don’t grapple with real world issues and have no interest in the problems facing working people. Not one Marxist academic — Kliman, Moseley, Dumenil, Saad-Filho, the Monthly Review editors, etc. — has stepped forward to accept this failure on behalf of the Marxist academy. The depression eleven years ago set in motion the events leading to a catastrophic failure of fascist state economic policy measures that we mistakenly call “the financial crisis” today.

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