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Karl Marx's Concept of Capitalism

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In this essay I will talk about Karl Marx’s view of capitalism as a whole, the role it plays in society, and the philosophical books he published which were composed for various purposes. The ‘Communist Manifesto’ expresses that he expected that capitalism will definitely obliterate itself, and he supports this by his other work ‘Das Kapital’, which is Marx’s analysis of why he believes it will crash.

Within his work the ‘Communist Manifesto’, he claims that all the progressions inside society are driven by a cycle of aggregate battle on gatherings of individuals, that share comparative financial circumstances to cooperate to discover their economic interests. He contended that the capitalist (bourgeoisie) consistently utilized the social class (proletariat) as he saw that the work that was done by the low class made a plentitude of riches for the entrepreneur. He found that the items that were produced in manufacturing facilities were sold at a more critical cost than the assessment of the work itself. The capitalist, who gets the opportunity to control the cycle of creation can increase a benefit along these lines. In any case, the laborer doesn’t profit by the extra worth. Marx believed that capitalism can destroy its own as he described how the wealth from the bourgeoisie relied on the work of the proletariat. He accepted that with capitalism as a country’s financial system, they will increase all the benefits, expanding more capital, while the social class will fail to do so.

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He then further strengthens his claim on why capitalism will crash by explaining his theory of the capitalist system in his most important work, ‘Das Kapital’. He believed that no matter what happens, capitalism will eventually lead to its downfall, and communism will eventually replace it. To Marx, capitalism was a phase in this authentic advancement and not a steady condition of human association. He admitted that industrial capitalism has globalized the world and that it had of necessity to reduce everything to a commodity which was labor power. The labor of workers had opened the door for profit to enter the whole system.

He demonstrates and clarifies that when capitalism is in its ideal structure, where there is no restraining of unique favorable circumstances to anyone, it is unworkable. In any case, Marx afterwards considered how benefits can exist in such a circumstance. In the event that everything is sold at a similar cost, at that point who gets an unmerited addition? He addressed this by saying that the product is labor power. For the worker, much the same as the capitalist, sells his item for the specific measure of work that goes into which for this situation, the measure of work that it takes to ‘make’ labor power. In case the worker agrees to work for a whole ten or eleven hours out of each day, he will have the choice to make a whole ten or eleven hours of critical worth, and he will get paid for the principle size. His compensation will cover his means which is his true ‘value’ yet consequently, he should make accessible to the entrepreneurs the worth he delivers in a full working day and that is the way profit enters the system.

In all, Marx views capitalism as an ethical system because he saw how the workers were utilized by the capitalists, who drew out surplus value for their unfair benefits. He believed that it is unfair for the workers when they aren’t getting paid according to the value of what they make. Because of this main factor, he believed that this is why capitalism will crash. Marx made a huge impact on the modern economic system in society today as he made many accurate predictions about capitalism which includes the globalization of it. In today’s world, many nations have capitalist economies such as the United States, Europe, Australia, and many more. He also mentioned how a society based on the exploitation of workers would eventually result in revolutions and revolts. This was true in the case of the exploitative Russian monarchy being transformed into a communist state. Because of the accurate predictions he made that are still true today, Marx’s analysis cannot be disregarded as it remains the gravest, most penetrating examination the capitalist system has ever undergone.

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Karl Marx’s Concept of Capitalism. (2022, September 01). Edubirdie. Retrieved February 8, 2023, from https://edubirdie.com/examples/karl-marxs-concept-of-capitalism/
“Karl Marx’s Concept of Capitalism.” Edubirdie, 01 Sept. 2022, edubirdie.com/examples/karl-marxs-concept-of-capitalism/
Karl Marx’s Concept of Capitalism. [online]. Available at: <https://edubirdie.com/examples/karl-marxs-concept-of-capitalism/> [Accessed 8 Feb. 2023].
Karl Marx’s Concept of Capitalism [Internet]. Edubirdie. 2022 Sept 01 [cited 2023 Feb 8]. Available from: https://edubirdie.com/examples/karl-marxs-concept-of-capitalism/
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