Thursday, August 27, 2026

Opinion

Economic theories as Karl Marx’s should be reconsidered

Economic decisions should be made in an appropriate manner so that the world economy does not continue in the wrong direction, writes Mohammed Anwar Al Balushi

By Mohammed Anwar Al Balushi

info@thearabianstories.com

Saturday, April 8, 2023

Reading the first line of the introduction, it reads “On 17 March 1883, Karl Marx’s funeral was attended by only eleven mourners.”. The book is about Karl Marx, by Francis Wheen, who revisits the life of a great thinker. Since reading books while drinking tea enhances my interest in reading, I ordered the “Karak tea” on the spot where I was sitting, so I could finish the introduction and first chapter of the book.

“Karak tea” has become very popular in Oman and other parts of the Gulf countries. Originally, it originated in Qatar, and then it was implemented by making tea there. It then spread to other Gulf countries. 

“What are you reading and whose picture is this?”, the little boy breathlessly asked. While I was reading the book, he and his sibling ordered sandwiches and asked me questions about it. In response, I replied, “He is Karl Marx.”. “Karl Marx!” he exclaimed. At the same time, he surprised me as well. I had never been asked this kind of question from a child of his age before. “Tell us what Karl Marx did”, the sister of the little boy asked me as she insisted me to share some words about him. “I am in grade seven and would like to know more about him”, she said. I failed since I didn’t read even the introduction’s second sentence. But I did manage to share something about Karl Marx that I had read and knew before. “He was a philosopher, an economist, and a thinker”, I told the little girl.

I didn’t get into depth about Karl Marx, like where he was born and where he died. In fact, I did not tell children what Karl Marx’s hobbies were when he was a child, as children love to hear such stories. 

At that moment, I could not continue reading Karl Marx’s first chapter as planned. I just finished reading the introduction.

While reading the book, I took a moment to think about the little boy. He has attracted me with his body language. Putting one hand on the table of the “coffee shop” and the other in the air, he started a conversation with me before he moved his lips.

His mouth opened to talk, and he looked like a bird flying without boundaries. In other words, his fearless way of throwing questions impressed me. In red shorts and a shirt, he looked good.

His football uniform reminded me of my childhood when I used to play football and then go to local coffee shops to buy “Pepsi and Nabil biscuits”. The Nabil biscuit brand is well known in Oman. 

In the book’s introduction, on the second page, I read the poem as follows:

He that has a Gospel
To loose upon Mankind,
Though he serve it utterly-
Body, soul and mind-
Though he go to Calvary
Daily for its gain-
It is his Disciple
Shall make his labour vain.

In the middle of trying to comprehend the meaning of this poem, the little girl interrupted with a new question about it. Despite the age of information and technology in which most children this age are engaged with “Celle phones” and games, this little boy and girl are showing a great interest in books.

The global economy seems unstable and frightening, therefore, such economic theories as Karl Marx’s should be reconsidered and put into practice. Economic decisions should be made in an appropriate manner so that the world economy does not continue in the wrong direction.   

Criticizing capitalism and its shortcomings was one of the key themes of his theories. The capitalistic system, according to Karl Marx, would ultimately destroy itself.

What is the significance of Karl Marx’s teachings and theories in the context of the global economy of today?

Disclaimer : The opinions expressed within this article are the personal opinions of the author. The facts and opinions appearing in the article do not reflect the views of TAS and TAS does not assume any responsibility or liability for the same.

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