Marx was often wrong on factual and theoretical grounds, and his prophecies and prescriptions were a disaster. His critique of capitalism in democracies, however, offers useful insights about ironic political coalitions; interest groups and collective action; and rent seeking and antitrust.

Michael C. Munger is Senior Fellow and former co-editor of The Independent Review at the Independent Institute, and Professor of Political Science, Economics and Public Policy and Director of the Philosophy, Politics, and Economics Program at Duke University.
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Other Independent Review articles by Michael C. Munger
Winter 2023/24 The Classical Liberal Diaspora
Fall 2023 Karl Mittermaier: Economic Theory vs. Reality
Fall 2023 The Governance Cycle in Parliamentary Democracies: A Computational Social Science Approach
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