“While in Paris, Marx studied early socialist theory, economics and the history of the French Revolution (Cole and Symes 672).” At this time, he also began a lifelong intellectual and political partnership with Friedrich Engels. “Marx and Engels joined a small international group of radical artisans called the League of the Just, in 1847 renamed the Communist League (Cole and Symes 673).” The league asked Marx to “draft a statement of its principles, published in 1848 as The Communist Manifesto, with Engels listed as the coauthor (Cole and Symes 673).”
“According to Marxist economics, two flaws necessarily cause capitalism to be a system of exploitation (“Marxist Economics”).” The first flaw is the problem of surplus labor. “According to this concept, the bourgeoisie profit not by selling their product at a price above the cost of materials plus labor, but rather by paying the worker less than the value of their labor (“Marxist Economics”)”. “This ability of the bourgeoisie to manipulate worke...
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...rgue that Capitalism is an inherently flawed system based on the concept of exploitation. Google defines exploitation as the action or fact of treating someone unfairly in order to benefit from their work such as the tendency for businesses to take advantage of migrant workers. Marx argues and I agree that, businesses knowingly increase their profit by paying employees under their value. This concept has been utilized in business throughout history and will continue to be implemented for as long as we as a society allow these billion and trillion dollar businessmen/industries to take advantage of common people. To these men and women of great wealth, power, and prestige, we are only a number, one of many underpaid employees in which they benefit from. Lower wages creates greater profit, a leading if not the number one priority to a majority of these powerful people.
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