This month, we had the 200th birth anniversary of the world’s greatest thinker and philosopher ever,Karl Marx, whose five greatest followers – Vladimir Lenin, Mao Zedong, Ho Chi Minh, Fidel Castro, and the most iconic of them all, Che Guevara – changed the world forever. They might all be controversial, but the fact is that, thanks to them, more than two-thirds of the world was being ruled based on ideas of one man – Karl Marx. They have often had faulty implementation – dictatorship (something that Marx never ordered) being the worst fault of all. But today, if one were to pause and assess– as the leading economists and thinkers even from the current generation are unanimously agreeing – each and every prediction of his about capitalism has come true. As Marx had said in his theory of historical materialism, societies pass through six stages – primitive communism, slave society, feudalism, capitalism, socialism and finally, global, stateless communism. One look at the best societies...
Dr. Arindam Chaudhuri
(An IIPM Think Tank Blog)