Recently I have watched two documentaries which have shaken me up; the first one is Micheal Moore’s Capitalism: A Love Story and Shock Doctrine: The Rise of Disaster Capitalism, based on the book of the same name. During the Bush era years, there was a sentiment of absolute belief in the Free Market and a panacea for all ills. In retrospect, that hungho attitude ended with the 2008 recession and we are experiencing a double dip recession with a good probability that a ‘Great Stagnation’ is up ahead. During the Bush 43rd era- it was a perfect time for the Right, favorable allies in the UK, Germany and France along with the post 9/11 sentiment made the french fries into the freedom fries for sometime. After the boom years of the 1990’s, people were upbeat about the potential of free market capitalism. The program of economic liberalization was on full swing through out the developing world although Russia and Latin America had bared the brunt of Chicago School madness in the past decade.
The left in France was pushed to a corner, things were perfect for the right. Marxism was passe and had died down in the public narrative over the 1990’s. Since the recession in 2008, as Marx had said that in the Capitalistic system itself; there are seeds of its own destruction with the erroneous cycles of boom and bust. There was a protest sit-down on Wall Street the last week. Unthinkable a decade back. The french left has good shot at the presidency next year. Leftist ideas have finally found acceptance in the mainstream. Writers like Umair Haque have penned down aspects depicting why Marx is relevant in today’s context. No ideology is bad or sacrosanct; ideas are only relevant to the ground on which it is applied and fact is Marx still matters 15o years since his death.