This is Ricardo not Marx

The house across the street has just gone on sale for £850,000. A bog-standard, late-Victorian, ex-council terrace house in the rough part of Islington, with a yard billed as a garden, costs as much as a street in Middlesbrough or Stoke.

When Marx wrote, in his Economic and Philosophic Manuscripts of 1844, that money “is the visible divinity” involving “the transformation of all human and natural properties into their contraries, the universal overturning and confounding of things: it makes brothers of impossibilities”, he wasn’t predicting how the north London property market would heat up in 2013, but he was unwittingly prescient.

And Marx wouldn’t have made that mistake either. Nor would Engels, what with his distinctly accurate survey of Manchester.

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