Theories of Marx hold lessons for contemporary world: Meghnad

Marxism has gained a new lease of life since the financial crisis of 2018 and the theories of Karl Marx hold great lessons for the contemporary world, mainly the role of capitalism in the context of globalisation, renowned economist Meghnad Desai said here today.

Desai made the remarks in his keynote address at the inaugural session of a five-day international conference on "Karl Marx - Life, Ideas, Influence: a critical examination on the Bincentenary".

"Many analysts have said that greater economic freedom and the rise of a dominant middle class in a country like China would lead to a demand for greater political freedom, culminating in the flowering of democracy. It is interesting to note that such a situation had been visualised by Marx in his writings", he said.

Economists, historians and social scientists from across the world are expected to take part in the five-day event which has been organized by city-based think tank Asian Development Research Institute (ADRI).

Speaking at the conference, noted academician, writer and columnist Dipankar Gupta said "Marx in his Communist Manifesto did not favour the formation of political parties by communists, nor did he approve the formation of their own sectarian principles".

He also claimed Marx "never propounded the concept of violence for social change" and that he "particularly propounded the vanguard role of women in social revolution".

Lamenting the "misinterpretation of Marx's ideas over the years", Gupta disapproved of "the tendency of scholars to equate Marxism with communist dictatorships like those of Mao, Stalin and others".

In his welcome address, ADRI Member-Secretary Shaibal Gupta said "we are not only remembering Marx, but have dedicated 38 memorial lectures to philosophers, economists, academicians and political figures who had either influenced him or were influenced by him".