Doodle, I've got very little knowledge of Marxism but one thing that seems clear to me is that whilst he may have been good at spotting some problems with capitalism, his suggested fixes were basically dumb. I think Machine Ghost's link to a criticism of Marxism by someone who knew Marx at the time spells it out perfectly :
http://en.wikipedia.org/wiki/Mikhail_Bakunin
He also developed a (resultantly prescient)[26] critique of Marxism, predicting that if the Marxists were successful in seizing power, they would create a party dictatorship "all the more dangerous because it appears as a sham expression of the people's will."[27]
........Although Bakunin accepted Marx’s class analysis and economic theories regarding capitalism, acknowledging "Marx’s genius", he thought Marx was arrogant, and that his methods would compromise the social revolution. More importantly, Bakunin criticized "authoritarian socialism" (which he associated with Marxism) and the concept of dictatorship of the proletariat which he adamantly refused.
"If you took the most ardent revolutionary, vested him in absolute power, within a year he would be worse than the Tsar himself.[24]"
I'm not so sure that our current finacialized, global system won't in hindsight be viewed as also causing pointless millions of deaths by starvation and dirty water etc. The price spike in grains in 2009 was our version of Mao's famines I guess. That speculative price spike in agricultural commodities caused a lot of starvation.
I am shocked though by hearing that in communist Bulgaria, they used to make factory workers work 8hrs on, 8hrs off, 8hrs on etc. They had to work at constantly rotating hours and were constantly sleep deprived. Apparently it was used as a way to crush all human spirit.
"Good judgment comes from experience. Experience comes from bad judgment." - Mulla Nasrudin