Che Guevara, who did so much (or was it so little?) to destroy capitalism, is now a quintessential capitalist brand. His likeness adorns mugs, hoodies, lighters, key chains, wallets, baseball caps, toques, bandannas, tank tops, club shirts, couture bags, denim jeans, herbal tea, and of course those omnipresent T-shirts with the photograph, taken by Alberto Korda, of the socialist heartthrob in his beret during the early years of the revolution, as Che happened to walk into the photographer's viewfinder--and into the image that, thirty-eight years after his death, is still the logo of revolutionary (or is it capitalist?) chic. Sean O'Hagan claimed in The Observer that there is even a soap powder with the slogan "Che washes whiter."

Che products are marketed by big corporations and small businesses, such as the Burlington Coat Factory, which put out a television commercial depicting a youth in fatigue pants wearing a Che T-shirt, or Flamingo's Boutique in Union City, New Jersey, whose owner responded to the fury of local Cuban exiles with this devastating argument: "I sell whatever people want to buy." Revolutionaries join the merchandising frenzy, too--from "The Che Store," catering to "all your revolutionary needs" on the Internet, to the Italian writer Gianni Minà, who sold Robert Redford the movie rights to Che's diary of his juvenile trip around South America in 1952 in exchange for access to the shooting of the film The Motorcycle Diaries so that Minà could produce his own documentary. Not to mention Alberto Granado, who accompanied Che on his youthful trip and advises documentarists, and now complains in Madrid, according to El País, over Rioja wine and duck magret, that the American embargo against Cuba makes it hard for him to collect royalties. To take the irony further: the building where Guevara was born in Rosario, Argentina, a splendid early twentieth-century edifice at the corner of Urquiza and Entre Ríos Streets, was until recently occupied by the private pension fund AFJP Máxima, a child of Argentina's privatization of social security in the 1990s.

The metamorphosis of Che Guevara into a capitalist brand is not new, but the brand has been enjoying a revival of late--an especially remarkable revival, since it comes years after the political and ideological collapse of all that Guevara represented. This windfall is owed substantially to The Motorcycle Diaries, the film produced by Robert Redford and directed by Walter Salles. (It is one of three major motion pictures on Che either made or in the process of being made in the last two years; the other two have been directed by Josh Evans and Steven Soderbergh.) Beautifully shot against landscapes that have clearly eluded the eroding effects of polluting capitalism, the film shows the young man on a voyage of self-discovery as his budding social conscience encounters social and economic exploitation--laying the ground for a New Wave re-invention of the man whom Sartre once called the most complete human being of our era.

But to be more precise, the current Che revival started in 1997, on the thirtieth anniversary of his death, when five biographies hit the bookstores, and his remains were discovered near an airstrip at Bolivia's Vallegrande airport, after a retired Bolivian general, in a spectacularly timed revelation, disclosed the exact location. The anniversary refocused attention on Freddy Alborta's famous photograph of Che's corpse laid out on a table, foreshortened and dead and romantic, looking like Christ in a Mantegna painting.

It is customary for followers of a cult not to know the real life story of their hero, the historical truth. (Many Rastafarians would renounce Haile Selassie if they had any notion of who he really was.) It is not surprising that Guevara's contemporary followers, his new post-communist admirers, also delude themselves by clinging to a myth--except the young Argentines who have come up with an expression that rhymes perfectly in Spanish: "Tengo una remera del Che y no sé por qué," or "I have a Che T-shirt and I don't know why."...