No. Communist governments--Laos, Cuba, Korea, China, in varying degrees--and insurgencies--Nepal, India--still exist and exert their effects on the lives of people.
Moreover, it appears to me that the decline of organized labor, especially but not exclusively in the US, combined with the effects of technology, are making Karl Marx's central prediction--that wealth tends to concentrate in fewer and fewer hands--look much more like it's coming true than it did a couple of decades back. Moreover, in an urbanized consumer society, the political and social control that wealth can exert is probably much greater than in the past.
So the potential for class warfare a la Karl Marx may be increasing once again.
The prescriptive aspect of Marxism is that a planned economy will lead to--well, basically Heaven on Earth--looks to be more thoroughly debunked than ever, however. The most heavily 'planned' economies have performed miserably throughout the latter twentieth century. (China only began to proper as aspects of capitalism were introduced.) It's still theoretically possible, I suppose, that scientific economics could actually crack the problem of managing an economy thoroughly enough that a planned economy could succeed. Not holding my breath on that, though...