Presumably, readers of this book fall into two broadly defined categories: 1) avid students of Marx looking for further insights, perspectives and heretofore unnoticed nuances of the dialectical materialist analysis of economics and 2) those driven to alternative analysis of the recurrent and increasingly devastating financial debacles assailing the world's capitalist economies. Regrettably, Eagleton's book will likely fail to satisfy the interest or needs of either category of reader.
This book is difficult to review without mentioning certain specifics, many of which undermine its central premises. Beginning with Eagleton's assertion that capitalism has "delivered the goods" (so to say) with regard to providing the material wealth on which the socialist transition is predicated: no doubt about that, at least in the West. Next, the notion of "class solidarity" on which both Eagleton and Marx base the socialist imperative: this has been refuted by the trajectory of human economic and social behavior repeatedly and irrefutably throughout the course of history. Why, for instance, would Russia (nexus of the former USSR) have evolved from a flawed version of "socialism" into a state capitalist, authoritarian, highly nationalist, corrupt nation instead of a better socialist one? Is the current version of Chinese "Communism" any less rapacious and predatory than the Western version of "market capitalism"? Why no evolution to benign socialism in these or other members of the former "Communist Block"? This begs the question, as the answer is, of course, the avarice that appears fundamental to human nature; enlightened (or not-so-enlightened) self-interest trumps putative class consciousness (a concept still awaiting empirical validation) each and every time.
Eagleton repeatedly asserts that Marx, as a thinker, has been "travestied": in fact, that's the basis for the book. Doubtlessly that's correct as a generality, but unfortunately for this argument, many highly sophisticated students of Marxist theory (Lenin, Trotsky and legions of others) derived remarkably consistent conclusions from his works and these, each and every one of them, are diametrically opposite from those posited by Eagleton. However perverted in implementation, the central tenants of Marxism as understood by its most prominent practitioners probably helps explain why 20th century socialist states were so uniform in their general modes of governance.
The ineluctable progression of economic systems (simplified version:feudalism;industiral capitalism; bourgeoise parliamentary democracy; transition stage to socialism via the "dictatorship of the proletariat"; culminating in communism) is the core of Marx's dialectic. But the "scientific" analysis so carefully cultivated and repeatedly asserted by Marx with its significant authoritarian overtones is dismissed as a misconstruction by Eagleton. The repeated and starkly authoritarian statements by Marx (such as this one, "We have no compassion and we ask no compassion from you. When our turn comes, we shall not make excuses for the terror", from ''Marx-Engels Gesamt-Ausgabe", 1849) are simply elided. Not to be pedantic nor to claim authority as a Marxist scholar, but having read, amongst others, "Capital", "The Communist Manifesto", "The Eighteenth Brumaire"; works by and on Trotsky, Marx, Stalin and Thornton Anderson's (highly recommended) but long out-of-print survey of the "Masters of Russian Marxism" (Plekhanov through Lenin, Martov, Trotsky, Kollontai, Bukharin, Stalin and Khruschchev) myself, I believe Eagleton is oftentimes incorrect when asserting his alternative and squishy humanistic interpretation of Marx.
A major thesis presented in "Why Marx Was Right" is that Marx posits a society of individuals in complete harmony with society (some sort of organic social unity): this is known as "the collective". That is accurate, with qualifications. Eagleton acknowledges that, "There is good reason to suspect that there can never be any complete reconciliation between individuals and society..." but fails to note that this concept has also served as the underpinning for all sorts of "social engineering" efforts, including those of radical Right movements (Nazism, for instance) as well as the radical Left: attempts to implement such a society have fallen afoul of individual rights with horrible and often-times barbaric consequences.
Marx's insights and abundant writing on the invidious aspects of religion (which, contrary to reasonable expectations for human progress, continues to assert its baleful effects on social, political and economic harmony) are inaccurately portrayed by Eagleton. Marx wrote, "Religious suffering is, at one and the same time, the expression of real suffering and a protest against real suffering. Religion is the sigh of the oppressed creature, the heart of a heartless world, and the soul of soulless conditions. It is the opium of the people." (Contribution to the Critique of Hegel's Philosophy of Right, 1843). It follows directly from this that religion ought to evaporate along with capitalism because the oppressed are no longer suffering under the socialist/communist system. But, Eagleton himself has religious proclivities of his own to protect, perhaps accounting for his tangential mention (and incorrect interpretation) of Marx's accurate assertion that religion is both an instrument for and expression of class repression.
Marx was famously, absolutely and demonstrably correct on one salient aspect of capitalism: its inherent instability with its resulting disruptive social effects. The fatuous notion that "unfettered and self-correcting" markets, as so stridently advanced by current-generation Republicans has, as any sentient observer can see, been utterly discredited by recent events. The "virtuous" concept of the "Great (capitalist) Moderation" has been utterly discredited, as well. Based on its present destabilizing trajectory, it seems quite likely that capitalism will provoke ever increasing social, economic and environmental crises and, in so doing, fulfill at least one of Marx's principle predictions. The question remains: What follows?
Eagleton correctly notes that the property-owning middle class (the "bourgeoisie", in common parlance) is rapidly evaporating. Many governments have enthusiastically espoused the most predatory forms of capitalism, becoming indistinguishable from the moneyed interests they represent. In concert with that expected development, the concept of social democracy has fallen into the dust as the global scramble for profit homogenizes, marginalizes and eliminates security for the bulk of the people, both in financial and social terms. So, Eagleton accurately characterizes governments as protectors of the propertied "classes" (a term he does not define until chapter 7 and then, for the "proletariat" in such a way as to dilute the term to the point of meaninglessness) but he often fails to coherently carry his arguments on to logical conclusions. Many astringent comments by Marx could have been selected to buttress the text, but Eagleton's digressions and pseudo-philosophical tangents confuse the issues. Much more trenchant criticisms of capitalism in its current forms have been made by highly respected "mainstream" economists, including John Maynard Keynes, Joseph Stiglitz, Paul Krugman and Nouriel Roubini, all to better effect than Eagleton's efforts.
According to Eagleton, "Capitalist society generates enormous wealth, but in a way that cannot help putting it beyond the reach of most of its citizens. Even so, that wealth can always be brought within reach. It can be disentangled from the acquisitive, individualist forms which bred it, invested in the community as a whole and used to restrict disagreeable work to a minimum" (chapter 3). This is obviously true and the logical conclusion from it is that wealth should be "re-distributed", either by policy (taxation) or by force. The problem is that, by Eagleton (and Marx's) own admission, the necessary predicate for a socialist society is one of material abundance and the ever disagreeable "haves" do not want to relinquish their perquisites to the "have nots": so, trouble and violence loom, especially as resources vanish. In this case, Thomas Malthus appears more prescient than Karl Marx: population increases beyond the carrying capacity of the planet and increasing competition over ever-declining resource pools (witness Chinese capitalism at work in Africa, for instance) strongly suggest a major catastrophe is looming; in other words, a socialist utopia based on "plenty" is not likely on the horizon. This, in my estimation, is the major flaw in Marx's (and Eagleton's) thinking.
In summary, Marx was, beyond any doubt, an important thinker whose impact can scarcely be minimized...in some cases for better and in many cases for worse. Nonetheless, at least in the immediate future, a more practical and pragmatic solution to the problem of capitalism can be found in the much-reviled (by strict Marxist thinkers, anyhow) Social Democratic approach, which is, in my estimation, best encapsulated in the motto of the Dutch Labor Party: "Freedom, democracy, justice, sustainability and solidarity. These are the ideals of Social Democracy". I highly recommend their succinctly and lucidly stated party platform. Regrettably, while this approach may work for the EU and (hopefully) for the US for the near-term future, I'd bet on world-wide disaster in line with Malthus' predictions on the longer-term horizon. I suspect we will not realize a communist utopia as Eagleton tepidly and uninspiringly imagines in this book, but rather a dystopian and authoritarian future riven by conflict driven by shortages, religious, ethnic, nationalistic and regressive capitalist forces.