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Marxian theory of capitalism
A basic outline of Marx’s theory
Karl Marx and his theory of capitalist society
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Karl Marx sought to understand how our capitalist society works, by concentrating on the social and economic relations in which people earn their living. Marx established that the capitalist system forces people into two classes; the bourgeoisie (the upper- class capitalists who own the means of production), and the proletariat (the working class). Marx’s analysis, otherwise known as “Marxism” is focused on developing the relations between these two classes. According to his theory, Marx believed that the law does not treat the two classes equally, supports the unequal treatment, and ignores the substantive inequalities between both. Marx is not concerned with the ideas of individual workers, but about their position in society. He sought to explain how the law operates as a means of repression, while promoting the interests of certain classes, most likely the bourgeoisie, at the expense of the rest of society, the proletariat.
The division of society into two separate classes and capitalism are interlinked, one cannot function to the best of its ability without the other, but it is not without its problems. The repressive mechanisms of the law and the capitalist system has brought about serious challenges to the existence of the role, the power, and the
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In a capitalistic society, the owner exploits his workers by draining them of their self-worth. A worker gets paid only for his sustenance as the product he works on gets sold by the capitalists in the interests of creating a profit. This leads to the worker’s alienation from his surroundings and his work leading to the estrangement from the process of production. The existing social relationship is inherently antagonistic in nature and will give rise to class struggle that will eventually lead to the collapse of capitalism, and the creation of a new
In Marx’s opinion, the cause of poverty has always been due to the struggle between social classes, with one class keeping its power by suppressing the other classes. He claims the opposing forces of the Industrial Age are the bourgeois and the proletarians. Marx describes the bourgeois as a middle class drunk on power. The bourgeois are the controllers of industrialization, the owners of the factories that abuse their workers and strip all human dignity away from them for pennies. Industry, Marx says, has made the proletariat working class only a tool for increasing the wealth of the bourgeoisie. Because the aim of the bourgeoisie is to increase their trade and wealth, it is necessary to exploit the worker to maximize profit. This, according to Marx, is why the labor of the proletariat continued to steadily increase while the wages of the proletariat continued to steadily decrease.
Marxism is a method of analysis based around the concepts developed by the two German philosophers Karl Marx and Fredrich Engel, centered around the complexities of social-relations and a class-based society. Together, they collaborated their theories to produce such works as The German Ideology (1846) and The Communist Manifesto (1848), and developed the terms ‘’proletariat’ and ’bourgeois’ to describe the working-class and the wealthy, segmenting the difference between their respective social classes. As a result of the apparent differences, Marxism states that proletariats and bourgeoisie are in constant class struggle, working against each other to amount in a gain for themselves.
Karl Marx (1818-1883) and Émile Durkheim (1858-1917) were sociologists who both existed throughout similar time periods of the 19th and early 20th centuries, resulting in both Marx, and Durkheim to be concerned about similar effects and impacts among society (Appelrouth and Edles: 20, 77). Marx’s main focus was on class distinctions among the bourgeoisie and proletariat, forces and relations of production, capital, surplus value, alienation, labour theory of value, exploitation and class consciousness (Appelrouth and Edles: 20). Whereas Durkheim’s main focus was on social facts, social solidarity – mechanical solidarity and organic solidarity, anomie, collective conscience, ritual, symbol, and collective representations (Appelrouth and Edles: 77). For the purpose of this essay, we will be focusing on the concerns that arised among Karl Marx and Émile Durkheim towards the benefits and dangers of modern capitalism. Marx and Durkheim’s concepts are comparable in the sense that Marx focuses on alienation and classes, which is similar to Durkheim’s concepts of anomie and the division of labour. The beginning of the Industrial Revolution and technological advances can be seen as a key factor that gave emergence to modern capitalism, as the economic system was based on private ownership, mass production, and increased profits, resulting in people to be separated based on class and the division of labour, later giving rise to alienation and anomie. In this essay, I will explore Karl Marx’s and Émile Durkheim’s evaluation of the benefits and dangers that came about with the rise of modern capitalism. Through these two theorists and sociologists, we can analyze, discuss, compare, critique, and come to understand how modern cap...
The text clearly criticizes the capitalist system of governance and the consequences of social stratification due to mal-practices by the bourgeoisies. It also states that despite the cons, capitalism is highlighted as a revolutionary thought because the monarchical and religious powers have impinged in favor of this system overtime. These practices and
Karl Marx noted that society was highly stratified in that most of the individuals in society, those who worked the hardest, were also the ones who received the least from the benefits of their labor. In reaction to this observation, Karl Marx wrote The Communist Manifesto where he described a new society, a more perfect society, a communist society. Marx envisioned a society, in which all property is held in common, that is a society in which one individual did not receive more than another, but in which all individuals shared in the benefits of collective labor (Marx #11, p. 262). In order to accomplish such a task Marx needed to find a relationship between the individual and society that accounted for social change. For Marx such relationship was from the historical mode of production, through the exploits of wage labor, and thus the individual’s relationship to the mode of production (Marx #11, p. 256).
Marxism is based on the political, economic and social theories of Karl Marx. His belief that the social class struggle had a major impact in history and that society should move towards a system where there are no classes. Marx believed that people are free, creative beings who have the potential to transform the world. He criticized the free market as being unregulated. Marx maintained that the market economy is coordinated through spontaneous purchase dictated by supply and demand. This blocked society’s ability to take control over both individual and collective destinies. He condemned capitalism as a system that alienates the masses. He reasoned that the market forces, not workers, control things. People are required to work for bosses (capitalists) who have full control over all decisions. The workplace, he said, becomes monotonous, humiliating, and suitable for machines rather than for free, creative people. In the end, the workers themselves become objects and make decisions based on profit-and-loss considerations with no concern for human worth and need. Marx concluded that capitalism blocks our capacity to create a humane society. In order to move society forward workers must reject and advance a market-based society and replace it with a democratic planned society. This is inevitable to advance society through history. Class consciousness is the awareness that a social class possesses and its capacity to rationally act for their best interest. Class consciousness is required before they can effect a successful revolution.
Karl Marx wrote the Communist Manifesto in order to give a voice to the struggling classes in Europe. In the document he expressed the frustrations of the lower class. As Marx began his document with "the history of all hitherto societies has been the history of class struggles" he gave power to the lower classes and sparked a destruction of their opressors.1 He argued that during the nineteenth century Europe was divided into two main classes: the wealthy upper class, the bourgeoisie, and the lower working class, the proletariat. After years of suffering oppression the proletariats decided to use their autonomy and make a choice to gain power. During the eighteenth and nineteenth century the proletariats were controlled and oppressed by the bourgeoisie until they took on the responsibility of acquiring equality through the Communist Manifesto.
The definition of utopia is an ideally perfect place especially in its social, political, and moral aspects (dictionary.com). This paper will discuss the changes in capitalism since Marx’s critique in 1848. Marx’s fundamental critique remains correct today. Marx is still correct about his critique of capitalism because even though there have been changes made to capitalism to prevent some abuses, capitalism still produces inequality, reduces the family relationship, destroys small business, and enslaves.
Capitalism dominates the world today. Known as a system to create wealth, capitalism’s main purpose is to increase profits through land, labor and free market. It is a replacement of feudalism and slavery. It promises to provide equality and increases living standards through equal exchanges, technological innovations and mass productions. However, taking a look at the global economy today, one can clearly see the disparity between developed and developing countries, and the persistence of poverty throughout the world despite the existence of abundant wealth. This modern issue was predicted and explained a hundred and fifty years ago in Karl Marx’s Capital.
Karl Marx was a philosopher, a sociologist, economist, and a journalist. His work in economics laid a foundation for the modern understanding of distribution of labor, and its relation to wealth generation. His theories about the society, economic structure and politics, which is known as Marxism led to him developing social classes. He later on showed how social classes were determined by an individual’s position in relation to the production process, and how they determine his or her political views. According to Karl Marx, capitalism was a result of the industrial revolution. Capitalism is a system that has been founded on the production of commodities for the purpose of sale. Marx defined the
The capitalist is motivated by being rewarded wealth. Capital can only multiply by giving itself in return of labor power. This exchange is based on specified percentages. For example, after a long 12 hours of weaving the worker is only compensated two shillings. They attain residual wealth by taking advantage of workers. These workers are being compensated less than the value of their work. The workers endure great deals of exploitation. Workers put their labor power into effect to acquire means of survival which makes existence possible. The amount of commodities is based on the cost of life and the workers’ work ethic. Marx foreseen that class conflict between the bourgeoisie and proletariat would result in the collapsing of capitalism. The motivations of the capitalist and the workers create conflict because the capitalist attempt to uphold capitalism by advocating their principles, beliefs, and fabricated perceptions that prevent proletariats from rebelling. Once the two classes conflict with one another the cla...
When the bourgeoisie became the people who owned businesses with the goal of earning a profit, and the proletariats became the working class, whom which the capitalist fed off of through their labor, Karl Marx found it to be very immoral. Through this division of these two classes, Marx believed “the working class would experience alienation” (Communist Manifesto). To replace this alienation and extreme social class structure, he concluded that capitalism had to be put to an end and create a “socialist system that would make all equal and have all people's needs met” (Communist Manifesto). Marx declared that proletarians have “nothing to lose but their chains” (Marx). Which compelled Marx to call for a workers revolution where the proletariat would rise up against the bourgeoisie, overthrowing capitalism.
He is known worldwide for his numerous theories and ideas in regards to society, economics and politics. His outlook on these subjects is known as Marxism. Marxism focuses on the imbalance and struggle between classes and society. Marx’s theories stem from the concept of materialism based society and the implications thereof. These concepts leads to the Marxist theory of the failure of capitalism. Marx had a number of specific reasons for the downfall of capitalism yet capitalism remains very real and successful. Marxism covers a wide range of topics and theories, but an in depth analysis of his criticism to capitalism and how it is not relevant to modern day will be explored.
Karl Marx was a German philosopher and political theorist. He developed the socio-political theory of Marxism. One of his most famous works is The Communist Manifesto that he co-wrote with Friedrich Engels. In The Communist Manifesto, Marx discusses his theories on society, economics and politics. He believed that “all societies progress through the dialectic of class struggle”. He criticized capitalism, and referred to it as the "dictatorship of the bourgeoisie". Marx believed that capitalism was unfair because the rich middle and upper class people manipulated the system and used it for their own benefit while we get the short end of the stick. We, being average Americans— like myself— who go to college full-time, juggle a job, and yet are constantly struggling just to make ends meet: the unappreciated, exploited and underpaid every day h...
It is this notion which gives the capitalists the opportunity and the means to exploit people in the society, through their wants and needs for an easy, nonchalant lifestyle. The problem arises when we start seeing these capitalists as saviors - as rescuers, and sometimes even incarnations of God - who save the people under them, from the hardened, miserable, and volatile life which they may have lead otherwise. It is at this moment where we commit our biggest mistake: put in our trust, faith and our life in the hands of these capitalists. They hardwire such people - make them feel like a prince, where in reality all they are, are peasants being manipulated and controlled to fulfill the personal objectives of these capitalists. It is in moments like these, where a person must realize, that all these comforts - these resources, these status privileges, the capitalists trust in them - are all but ‘baits’, intricately thought of and designed to ‘lure’ an individual into the trap from which - despite tremendous efforts - if caught, it is extremely difficult to escape from. It is, in moments like these, where one must develop and possess the mental