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marxism and political economy essay
Marxism my simple essay
Marxism my simple essay
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According to Marxist political economy, exploitation is the key factor which underpins the very fundamentals of society. By this Marxists believe exploitation is more than simply an economic phenomenon, but instead a norm created through false consciousness, which has infested itself within all aspects of society; stretching from the state, to the very structure of the social system. Marx emphasis on exploitation lies in his belief that the value of a ‘commodity’ is purely derived from the accumulated labour expended to produce such a good. Although the ‘labour theory of value’ was originally contemplated by Classical Economist such as Smith/Ricardo the emphasis for Marx was on labour as a value rather than simply a cost in the production process. As Dooley explains ‘Marx maintained that labour was the sole value creating substance’ (Dooley 2005) and this point is further developed by Sayer who states that the fundamental distinguishing characteristic of Marxism ‘is the existence of labour-power as a commodity’. (Sayer 1979). For Marx labour was the source of all wealth in society, which would ultimately be transformed by the bourgeoisie into ‘surplus value’ and profit through numerous industrial policies such as specialisation through division of labour. Capitalism is a system that encourages ‘alienation’ of the worker as the commodities produced are not produced for need or desire, but instead in the pursuit of profit. It’s from this concept that exploitation can be explained. Marx defined exploitation as the surplus value extracted from the labour force in order to generate profit. This would be achieved through paying wages lower than the value of the commodity produced. Such a theory remains evident in the n... ... middle of paper ... ...Economy. London: International Publishers. 19 - 23. Marx, K and Engels, F (2002). The Communist Manifesto. 3rd ed. London: Penguin. 219. Marx, K and Engels, F (2002). The Communist Manifesto. 3rd ed. London: Penguin. 258. Powell, B and Skarbek, D. (2004). Sweatshops and Third World Living Standards. The Independent Institute. 53 (1), 6, 10. Sayer, Derek (1979). Marx's Method Ideology, Science & Critque in Capital. 2nd ed. Brighton: The Harvester Press Limited. 44-45. Sumner Colin (1979). Reading Ideologies an investigation in to the Marxist theory of ideology and law. London: Academic Press Inc. 44. Woodley, Daniel (2009). Political Ideologies. Spain: p43. Woodley, Daniel (2009). Political Ideologies. Spain: p42 http://news.bbc.co.uk/1/hi/business/7242492.stm (2008) http://www.indexmundi.com/bangladesh/gdp_real_growth_rate.html
However, the advancements that he listed as enriching the human experience are merely a product of progression, which can occur in any economic system, not just capitalism. Goldberg then went on to discuss capitalism’s creation of “intangible capital” and the value it brings (Goldberg, 12). However, the capitalist elite control the means of distributing this “intangible capital”, and often access to “natural capital” as well. The inequity of this system is what results in the powerlessness of those in poverty, who find themselves unable to challenge those in power. Marx perhaps best envisioned this in his concept of a class struggle between the proletariat (working class) and bourgeoisie (owners of the means of production), and proposed socialism as an alternative economic
Marx states that the bourgeoisie not only took advantage of the proletariat through a horrible ratio of wages to labor, but also through other atrocities; he claims that it was common pract...
Exploitation of workers is when someone purchases a good for a certain price that is just enough to reproduce the commodity, but not enough to compensate the amount of labor power or stress that the worker must undergo in order to create the product. Marx states
Let me provide some context for my account by briefly describing the place of exploitation in Marx's theory of history, the connection between the normative and explanatory roles of exploitation, and the relevance of Marx's theory of exploitation for contemporary social philosophy. For Marx exploitation is a concept of historical generality, applying not only to capitalism, but to feudal and ancient modes of production.
Although, it is now known that capitalists don’t make profits by exploitation, but rather from taking risks and organizing consumption. He says that it is not unfair but that this exploitation is why there is a class struggle, and an economic crisis. Developing the labor theory of value even further, Karl Marx says that workers have no other choice but to be exploited, because they have no other means of production. The labor theory of value, further explained by Karl Marx’s viewpoint, says that the laboring of the proletariat, working class, is what creates new value which then translates into profit. Due to the fact that capitalists do not make profits by exploitation, the labor theory had some problems. These problems were fixed by the subjective value theory. This theory said that exchange value is not absolute and is based on individual evaluations. The subjective value theory also says that value comes from a human perception of what he views as useful. The discovery of this theory changed the relationship between input costs and market
Marx’s argument is essentially that if the product of workers’ labour is alien to the worker, then it must belong elsewhere. For example, Marx stated that private property brings about restriction, and Marx critiqued the state and money, stating that it under minded community (Appelbaum, 1988). Private property is the product and the consequence of alienated labour, thus private property results from the concept of alienated labour (Suchting, 1983). Alienation adds to exploitation, in that the capitalist has a belief that they have a legitimate claim on the means of the production and the workers do not (Elster, 1995). In contemporary society, according to Marx, men were gradually producing with the sole objective of exchanging and thus there
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.
In his Manifesto of the Communist Party Karl Marx created a radical theory revolving not around the man made institution of government itself, but around the ever present guiding vice of man that is materialism and the economic classes that stemmed from it. By unfolding the relat...
The exploitation theory involves one group of people, usually the majority, using another group of people for their own economic gain. “Racial prejudice is often used to justify keeping a group in a subordinate economic position’ (Schaefer 39). Exploitation is seen when a minority group competes with the majority group. “Karl Marx emphasized exploitation of the lower class as an integral part of capitalism” (Schaefer 39).
According to Marx, the 'capitalist mode of production' is a product of the 'industrial revolution' and the division of labor coming from it. By virtue of this division,...
The bourgeoisie “has sprouted from the ruins of feudal society” (Marx and Engels, 1848). The bourgeoisie or capitalists are those who purchase and often exploit labour power in order to maximise their surplus value. The b...
Because of the conditions that the wage-workers worked in, Marx described it as exploitation. Marx felt that the wage workers were being exploited. The capitalist, also known as the bourgeoisie, were exploiting the wage workers, the proletariats, because of their cheap labor. They were essentially using them to create and increase their own profit. This in turn brought up alienation. Basically, alienation, also known as estrangement, is when a person is separated from their work, what they produce, themselves, and their environment. Marx’s theory of alienation was used to describe workers laboring under the capitalist society. The workers, also known as wage laborers, were commodities—things that are bought, sold, or exchanged in the market. They were selling their labor which means that they were being alienated from what they were doing.
Marx’s critique of capitalism was written more than a hundred and fifty years ago; however, its value and insight are still extremely relevant to the twenty-first century. In order for us to maintain mixed-market capitalism, ensuring ethics in businesses and stability in growth, all of us need to read and understand Marx’s critique.
Karl Marx focused on Capitalism and the rise of social conflict as the basis of modernity. Marx felt that capitalism through industrialization had increased the productive capability of the economy. Nevertheless, he also felt that capitalism produced two opposing classes of people. The first class, who owned and controlled the means of production and hired laborers, were known as the Bourgeoisie. The second class, who were com...
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...