the mischaracterizations of Marx’s ideas were quite fantastic (as were his calumnies against them)

There can be no question that Marx saw far beyond the horizon of his century and that Capital, as the Economist (which Marx read faithfully) pointed out a few years back, remains startlingly contemporary even in the age of Walmart and Google. But in other cases Marx’s vision was limited by the anomalous character of his chronological niche: arguably the most peaceful period of European history in a thousand years. Colonial interventions aside, liberal London-centered capitalism did not seem structurally to require large-scale inter-state warfare as a condition of its reproduction or as the inevitable result of its contradictions. He died, of course, before the new imperialism of the late 1880s and 1890s led to zero-sum conflicts amongst the major powers for shares of the world market. Nor could Marx, even after the massacre of the Communards, have possibly foreseen the horrific price that counter-revolution in the next century, including Thermidorean Stalinism, would exact from rank-and-file anarchists, socialists, and communists: at least 7–8 million dead.7 Since the youngest and most politically conscious tended always to be in the front lines, these repeated decimations of the vanguard entailed incalculable consequences—ones that have been almost entirely ignored by historians.

In the epilogue to my 2006 book Planet of Slums, I asked: To what extent does the informal proletariat, the most rapidly growing global class, possess that most potent of Marxist talismans, “historical agency”? Although I was not aware of it at the time, Eric Hobsbawm had asked exactly the same question in an interview given in 1995. (He is quoted at the beginning of the next chapter.) Neoliberal globalization over the last generation has recharged the meaning of the “wretched of the earth.” Hobsbawm’s “gray area of the informal economy” has expanded by almost 1 billion people since his interview, and we should probably subsume the “informal proletariat” within a broader category that includes all of those who eke out survival by day labor, “micro-entrepreneurship,” and subsistence crime; who toil unprotected by laws, unions, or job contracts; who work outside of socialized complexes such as factories, hospitals, schools, ports, and the like; or simply wander lost in the desert of structural unemployment. There are three crucial questions: (1) What are the possibilities for class consciousness in these informal or peripheral sectors of economies? (2) How can movements, say, of slum-dwellers, the technologically deskilled, or the unemployed find power resources—equivalent, for example, to the ability of formal workers to shut down large units of production—that might allow them to struggle successfully for social transformation? and (3) What kinds of united action are possible between traditional working-class organization and the diverse humanity of the “gray area”? [...]