Karl Marx was a brilliant diagnostician. His analysis of the way in which unregulated capitalism can drive inequality was incisive, especially considering the lack of data available to him to prove his point. His solution, on the other hand, was appallingly destructive.
That seems to happen fairly often. People notice a social or economic problem, assess and diagnose its cause with astonishing aplomb, and then suggest a solution of startling naiveté based on cartoonish assumptions about the way people behave.
Sometimes the cartoon solution reflects the cartoon in real life. Continue reading