Jordan Schuetz History 20 Dis. M 2-3pm 28 May 2014 Disagreements on Capitalism Karl Marx, Adam Smith and Andrew Carnegie came up with various perspectives on how capitalism could be improved or changed for the betterment of society. Karl Marx lived from 1818-1883 and was alive during the Industrial Revolution which was a time that moved Europeans to cities from rural farming.. Marx observed the economy he lived in and saw the huge flaws with capitalism. Poverty, class conflicts and private property were all flaws of capitalism that Marx thought we could avoid if historical change took place. Capitalism according to Marx is an extremely unsatisfactory government system that gives power to the upper class landowners and keeps the proletariat exploited. The proletariat in a Capitalist society are continually exploited for their labor and don’t receive any of the profits for the item they produced for their firm. Shareholders of the firm end up being the ones who reap the rewards from the company even though they have nothing to do with manufacturing the good expect investing money. Marx insists that society would be better off if working class individuals controlled and owned all of the capital in the economy. In a capitalist society the bourgeoisie make huge amounts of money off the proletariat which is something that can’t last forever. Marx argued that as time passes increasing tensions between classes will surface and end capitalism altogether. Essentially, the lower class will revolt and force the government to abolish the capitalist system by putting in place socialism. Socialism doesn’t support alienated labor or employees as commodities for sale. Alienation of labor occurs in a capitalist society according to Ma... ... middle of paper ... ...ofit, but to help the community. Carnegie tested that if the capitalists and rich land owners give their extra money back to society, it will have a great benefit on everyone. People will not only seek out technological innovation for profits, but they will do so to have their name remembered forever due to the generosity of giving back to the people. The rich according to him needed to be philanthropists or else the working class would lose faith and stop supporting the firm. Ironically, if the rich don’t give back, Carnegie believes once they die the majority of their funds should be taxed to the government which in turn can give it back to the people the capitalists originally took it from. Mark Smith and Carnegie disagreed on many aspects on how a utopian economy should run, but knowing their differences allows us find ways to improve our current society.
Carnegie understands the flaws with the law of competition, stating that their is often friction between the rich and the poor. He acknowledges that the law may be hard for individuals, but in the long run it will benefit the race. He continues that the competition of industrial and commercial are more than beneficial but will allow progress of society. He suggests that the wealthy can use their wisdom and experience and help set an example for those without guidance. Carnegie endorses the wealthy allow their surplus of wealth to be given to improve their community. He states that the riches passing through the hands of a few can be more beneficial than if the wealth distributed and was given directly to the
Moreover, Carnegie believes a rich man shouldn’t leave a fortune to their families and men shouldn’t wait until death to donate money for public uses. In addition, Carnegie (1889) portrays that, the only mode for a rich man to use their fortune is, “to produce the most beneficial results for the community- the man of wealth thus becoming the.
The fact that they brought jobs into the country with the factories and that we were becoming more technologically advanced without the help of Europe was something the Captains of Industry were admired for. The need for good all across the country helped railroad companies grow, and further connect parts of the country together therefore uniting it as a whole. The strong economic growth established a new middle class and a wage maturity of 20%. The population increased, as people flooded into cities for jobs. The businessmen were shown in a positive light as helping to grow the United States’ economy. Men like Andrew Carnegie also knew that it was important to help those less wealthy than himself. Many Captains of Industry were noted for helping to establish universities and libraries along with other public institutions that benefitted the middle and lower class. Carnegie fro example made it a mission “to produce the most beneficial result for the community… doing for them better than they would or could for themselves” in his article “Wealth” written in 1889 (Document C). He believed that they shouldn't simply give the poor money, but provide them with the opportunity to gain it themselves. When Carnegie retired he donated over $350 million to help establish libraries, schools, universities and to act as a pension fund for his former employees. Men like Carnegie helped the American people to prosper as a county. James J. Hill donated seed, grain, and cattle to farmers that were affected by drought and economical depression. The men paved the way for others to be able to establish themselves, and ave them the resources to do so without directly handing it to them. They allowed for new technologies to further come about that further industrialized
...ve up the fortunes they have built themselves. It is an admirable idea to give your money to help promote a thriving community. Carnegie states that he is against charity and believes that those in need should be taught how to improve their own lives. To fund these institutes and corporations a form of charity must be given. Wealthy citizens give their excess money to a few to disperse of in a way they see fit to help the race. Most Americans are not willing to give up such a large sum of money as noble and respectable of an idea as it is. I think that Carnegie’s plan, in theory, would work and would be best for the race. I do not think it is practical because most would rather spoil their own family with inheritance than give it away to help people unknown to them. Carnegie’s idea of fair is equal opportunities for everyone to help themselves and the race.
Document M gives us quotes from Andrew Carnegie’s, “Wealth” in the North American Review, June 1889. He states that he wanted more than just the wealthy to prosper: “The man who dies rich is a disgrace.” He was one of those men who would leave their wealth for public use on his deathbed. He never spent too much of his money because he wanted to “set an example of modest... living…; and… to consider all surplus revenues… as trust funds;” he’s a little bit of a hypocrite. Carnegie’s ideas are criticised for the mistakes along the way, but when his ideas came to be, they made big impacts all around the
There is always at least one odd duck, which stands out from the crowd. The same is true when it comes to politics. One of the most controversial political ideas to ever come to power, is communism. Branching from the socialist party, in 1848, extremist Karl Marx expressed his theories in The Communist Manifesto. This is a text that is still debated today. In an article in the Journal of Social Society, William Niemi wrote about Marx’s ideas still present today. “The rethinking about Karl Marx and Marxism continues some 20 years after the fall of the Soviet dictatorship and its satellites.” (Niemi). Within this volume of ideas, Marx expressed many highly debated topics, the most controversial of course, being communism itself. Though many of
Karl Marx does not agree with capitalism and views it as a system that incapacitates workers and places them in a category that will almost never attain the wealth that their owners/employers have. Capitalism oppresses its citizens and makes them believe that a capitalist society is best. Society has been able to benefit greatly from capitalism but a major fault in capitalism is the dependency that exists between capitalism and us. The disproportion of wealth amongst the rich and poor in America creates and maintains a group of Americans that will either have too much money and another group that struggles to ascertain a piece of that wealth but will almost never reach the same level of wealth.
Karl Marx believed that the only way to understand present day’s economic system, you need to study history and social class. Capitalism emerged from pre-capitalist societies like slave economies, feudalism and mercantilism. These societies are all connected to each other through development, decay and replacement. These societies are never static and always evolving. Rome’s slave economy transformed into feudalism and then mercantilism developed from feudalism. Over time, mercantilism leads to what we call modern day capitalism.
Carnegie did not believe in spending his money on frivolous things, instead he gave most of his fortune back to special projects that helped the public, such as libraries, schools and recreation. Carnegie believes that industries have helped both the rich and the poor. He supports Social Darwinism. The talented and smart businessmen rose to the top. He acknowledges the large gap between the rich and the poor and offers a solution. In Gospel of Wealth by Andrew Carnegie, he states, “the man of wealth thus becoming the mere agent and trustee for his poorer brethren, bringing to their service his superior wisdom, experience and ability to administer, doing for them better than they would or could do for themselves” (25). He believes the rich should not spend money foolishly or pass it down to their sons, but they should put it back into society. They should provide supervised opportunities for the poor to improve themselves. The rich man should know “the best means of benefiting the community is to place within its reach the ladders upon which the aspiring can rise- free libraries, parks, and means of recreation, by which men are helped in body and mind” (Carnegie p. 28). Also, Carnegie does not agree they should turn to Communism to redistribute wealth. Individuals should have the right to their earnings. Corporations should be allowed to act as it please with little to no government
A wealthy person, with the desire to do well with their fortune, could benefit society in a number of ways. Carnegie has verbally laid a blueprint for the wealthy to build from. His message is simple: Work hard and you will have results; educate yourself, live a meaningful life, and bestow upon others the magnificent jewels life has to offer. He stresses the importance of doing charity during one’s lifetime, and states “…the man who dies leaving behind him millions of available wealth, which was his to administer during life, will pass away ‘unwept, unhonored, and unsung’…” (401). He is saying a wealthy person, with millions at their disposal, should spend their money on the betterment of society, during their lifetime, because it will benefit us all as a race.
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, in the Capital, developed his critique of capitalism by analyzing its characteristics and its development throughout history. The critique contains Marx’s most developed economic analysis and philosophical insight. Although it was written in 1850s, its values still serve an important purpose in the globalized world and maintains extremely relevant in the twenty-first century.
Marx helps us to understand capitalism and the system in which we live in today. He argued that capitalism is prone to regular crisis and uprisings, and we see that when we observe meltdowns around the globe currently. We will, of course continue to live in a capitalist society, as opposed to a communist one, but with the knowledge that it is a system that requires intervention from time to time of political institutions. That is evident just recently when bailouts were needed to keep such institutions going during the economic recession of 2008, and which Marx predicted would be an outcome of this type of society. Marx is considered one of the most important social theorists of all time.
Karl Marx was a man who was very concerned with economics, more specifically market or capitalistic economies. In Capitalism, production is mainly from private industries where the bourgeoisie who have enough capital are able to exploit the labor of the proletariat and turn it into profit. What Capitalism does well is it...
Marx explained how employers can exploit and alienate their workers; this is described in more detail and is known as ‘the labour’. theory of value’. Marx also goes on to explain how in a business. falling rate of profit can lead to an inevitable crisis, revolutions. can emerge and then finally lead to the socialist state.