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
Summer 2023 Solving Social Dilemmas: Ethics, Politics, and Prosperity
Summer 2023 Stealth Lobbying: Interest Group Influence and Health Care Reform
Spring 2023 The Bright and Shiny Soul of Geoffrey Brennan (1944–2022)
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