The discussions and debates that have accompanied the 200th anniversary of Karl Marx’s birth since 2018 have provided an important opportunity to re-examine heretofore neglected aspects of his political and philosophical legacy. Foremost among them is the extent to which his body of work provides conceptual resources for developing a viable emancipatory to capitalism in the 21st century.

The emergence of a new generation of anti-racist activists and thinkers battling police abuse, the prison-industrial complex and entrenched racism in the US, alongside the crisis over immigration and growth of right-wing populism in Europe and elsewhere, makes this a crucial moment to develop theoretical perspectives that conceptualise race and racism as integral to capitalism while going beyond identity politics that treat such issues primarily in cultural and discursive terms.

Marx’s Capital has been heralded for many things, but providing an exhaustive account of a future socialist society isn’t one of them.

In Marx there is a concept of an alternative to capitalism that provides a foundation for the needed effort to reinvigorate anti-capitalist movements. But a richer, more adequate understanding of socialism that addresses the realities of contemporary capitalism today still awaits us.