Photograph Source: The White House – Public Domain

Trump’s tariffs and war on free trade signal the end of an experiment in globalism that began in the 1990s with NAFTA and the breakup of the Soviet Union. Yet the question is whether this is a new stage for capitalism, or a futile or reactionary effort to turn back the clock on the global economy?

Over time, Marxists have preoccupied themselves with the problem of historical stages. When Marx wrote the Communist Manifesto in 1848, he envisioned capitalism teetering on the brink of collapse. The revolution, he believed, was imminent. Yet, capitalism persisted—evolving, adapting, and resisting its demise.

By the late 19th century, figures like Edward Bernstein and Rosa Luxemburg reignited the debate. Was capitalism nearing its end, or did it possess an infinite capacity to manage and survive the crisis? Their arguments........

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