This is part of Atlantic Monthly’s series: “Books that Changed the World” in which several different authors write biographies of influential books. I don’t know about the other books in the series, but this book was very short (144 pages). I was able to read through the whole thing in just a few days.
Wheen is also the author of a biography of Marx, and as with his biography of Marx, in his work on Das Kapital Wheen spends a lot of time making fun of Marx’s personality quirks, but ultimately comes down on Marx’s side on most of the issues.
Wheen blows up a lot of the mythology surrounding Marx on both sides by focusing on his all too human foibles (very much similar in tone to Mark Steel’s lectures on Karl Marx–viewable on Youtube here). Far from being a dedicated evil genius or a revolutionary Jesus Christ, Marx had a terrible time writing this book. He procrastinated endlessly, constantly lied to his publisher and his friends and told them it was almost finished when it wasn’t, and generally showed a remarkable inability to just buckle down and finish the thing.
As a result, only volume one out of an intended six volumes was completed during Marx’s lifetime. Therefore, as Wheen emphasizes, despite the tendency of Marx’s disciples to make dogma out of his work, no complete bible of Marx’s theory exists.
Another one of Wheen’s main points is that Marx intended Das Kapital to be a work of art rather than purely a work of economics. Instead of simply writing a straight forward economic text, Marx throws in so a great deal of humor, irony, literary and poetical allusions. I’ve got to say, based on Francis Wheen’s description of it, Das Kapital doesn’t sound half bad as reading material.
Lastly, as you would expect, Wheen spends a significant amount of time analyzing the ideas in Das Kapital.
Wheen believes that although Marx may have failed as a prophet, he was extraordinary as an analyst. That is, although the communist revolutions may not have happened exactly as Marx had predicted, Marx was still able to give an excellent analysis of how capitalism functioned, and what it’s inherent instabilities were.
Wheen goes on to assert that although Marx’s theories have been unfairly maligned in the West, much of Marx’s analysis has been subsequently vouched for by mainstream economists. In fact Wheen argues that Keynesian economics, with it’s belief that capitalism unregulated and left to its own devices is inherently unstable, is very similar to Marx’s own analysis.
Although this book was originally published back in November of 2007, one year ahead of the economic meltdown, recent events have made this subject much more relevant now than it was when it was first published. In fact, Time magazine, of all places, just recently published an article that raises the question: Was Marx’s critique of capitalism right after all? And here in Japan, Marx’s Das Kapital is enjoying renewed popularity as a Manga.
(Also, anyone interested should check out the NPR interview with Francis Wheen about this book.)
Francis Wheen, Marx’s Das Kapital: A Biography, (Grove Press, 2007).