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.

This article will be posted in full nine months after its initial print publication. To read it now, please buy this issue in print or ebook form from our store, in our iOS or Kindle Fire app, or on various platforms via Magzter.