From atop the flawed foundation of the Labor Theory of Value, Karl Marx made a series of predictions about capitalism that time has proven incorrect. Among these are the immiseration of the masses due to capital accumulation, chronic overproduction, capitalist-driven imperialism, and the inevitable rise of monopolies. ...
Karl Marx’s predictions about capitalism have consistently failed. Instead of immiseration, capitalism has increased living standards. Instead of job destruction, technology has created new industries and opportunities. Instead of economic collapse due to overproduction, global trade has flourished. Instead of conquest, capitalism has fostered economic expansion through voluntary exchange. And instead of monopolistic stagnation, competition and innovation continue to drive economic progress, despite the intervention of political states.
Marx’s economic forecasts were not just incorrect but fundamentally flawed. Capitalism, despite its imperfections, has outperformed Marx’s vision by delivering prosperity on an unprecedented scale.
It is just a pity that people, all over the world, either don't read about this or ignore it for the other pithy one-liners that they can make about Marx's theories. They are all wrong and will lead to all of the problems listed about, except for one! That one being the enrichment of the leaders of the progressive/lefty/collectivist/Marxist/socialist/communist/murdering state, who always seem to be the riches ones of their societies. The leaders and progressive/lefty/collectivist/Marxist/socialist/communist/murdering party members always seem to come out of the shithole messes they create smelling like roses! Why is that, when everybody else comes out badly or dead?