The struggle against capitalism is as old as capitalism itself. The battles have been bitter and bloody, with triumphant highs and painful, lasting lows. But the Left is nothing if not tenacious. We keep the red flag flying, doggedly struggling for a better world, for socialism. Despite the odds, we never give up.

Gérard Duménil and Dominque Lévy, two highly regarded heterodox economists, want us to give up. They’ve had enough of our flailing and failing. To convince us, they’ve written a new book, Managerial Capitalism: Ownership, Management and the Coming New Mode of Production.1 The book argues that our quest has been in vain: The working class won’t rise up and bring socialism. If anyone is going to save us it will be the doctors, lawyers, bankers, consultants, and other members of the 1 percent.

This may seem like a surprising message coming from Marxists, but Duménil and Lévy (d-l) have been developing this argument for a long time. Managerial Capitalism reads like an opus, consolidating and honing their empirical and theoretical case for the end of capitalism and the triumph of managerialism — a “new antagonistic mode of production.”

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