In the two decades following the fall of the Berlin Wall, global
capitalism became entrenched in its modern, neoliberal form. Its
triumph was so complete that the word "capitalism" itself fell out
of use in the absence of credible political alternatives. But with
the outbreak of financial crisis and global recession in the
twenty-first century, capitalism is once again up for discussion.
The status quo can no longer be taken for granted. As Eric Hobsbawm
argues in his acute and elegant introduction to this modern
edition, in such times The Communist Manifesto emerges as a work of
great prescience and power despite being written over a century and
a half ago. He highlights Marx and Engels's enduring insights into
the capitalist system: its devastating impact on all aspects of
human existence; its susceptibility to enormous convulsions and
crises; and its fundamental weakness.
General
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