Wealth inequality: the past, and the future

Part III: Liberal objections to Marx's law of capital accumulation, debunked.

This is the second of a multipart series on the past and future of capitalism. Part I is here. Part II is here.

Critics of Marx generally advance three different rebuttals to his law of capitalist accumulation. The first is a theoretical objection: that even if capitalism becomes monopolistic, this need not lead to a worker’s revolution. The second is hi…