To what extent is this analysis (as this is developed in The Communist Manifesto) still relevant?

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Question description
Consider the following citation from Marx and Engels’ The Communist Manifesto:
‘…the epidemic of overproduction. Society suddenly finds itself put back into a state of momentary barbarism; it appears as if a famine, a universal war of devastation had cut off the supply of every means of subsistence; industry and commerce seem to be destroyed; and why? Because there is too much civilization, too much means of subsistence, too much industry, too much commerce…And how does that bourgeoisie get over these crises? On the one hand by enforced destruction of a mass of productive forces; on the other, by the conquest of new markets, and by the more thorough exploitation of old ones.’
To what extent is this analysis (as this is developed in The Communist Manifesto) still relevant? Refer closely to Marx and Engels’ text in your answer.
LENGTH 1000 words.
FORMAT Times Roman, 12 pt., double-spaced.
INCLUDE at least 2 outside scholarly sources in a bibliography and at least one from book
CHECK for spelling and grammar errors.
REMEMBER your audience. What might be obvious to you may not be obvious to the person reading your work.
OUTLINE your ideas in advance on a separate sheet of paper and consult with the professor before you start writing the essay.
PROVIDE a cover page with your name, class information, date, essay number, and word count.
NUMBER each page and staple pages together.
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