The Paradox of Capitalism - 2320 Words

Capitalism is an engine of economic growth that drives innovation faster than any sports car imaginable. Driving into oblivion can be thrilling, but it always has risks. The paradox of capitalism is subjective. For the working class, capitalism is a derogatory term symbolizing the exploitation of the poor by the strong and powerful. For the ruling class, it symbolizes a system where opportunities abound for those who are devoted, innovative, and work hard. Karl Marx and Emile Durkheim, prominent social theorists studied the division of labour in a capitalist economy and both of their views have merit. Marx, well renowned German philosopher was one of the first incredibly influential social activists in history. He fear that we live in a†¦show more content†¦Furthermore, the laws of motion suggest that surplus value will gradually lead to overproduction and declining profits and this leads to mergers, closures, and monopolies. Marx is correct, this is inevitable because capit alists are forced into competition to win, and those losers become proletarians, which ultimately decrease the size of the capitalist class. More importantly, the secret of labour power and surplus value is exploitation, â€Å"the material well-being of the exploiter casually depends upon the ability to appropriate the fruits of labor of the exploited (Wright, in the course kit, #3). Oppression alienates the proletarians and Marx hoped they would unite against the capitalists as a collective class-consciousness, but it never happened. According to Marx, the danger of capitalism lies in the problem of surplus labor. Capitalism was inevitably a flawed system because it deprived the worker of profits for his work. Hypothetically speaking, Marx suggests if a workers labor produced fifty dollars worth of goods in an hour, than he should be paid fifty dollars per hour. If he was not paid the full value of what his labor added to the materials, than he was being robbed of his earnings. He is adopting fellow economist Adam Smiths concept of labour theory value (Appelrouth and Edles: 63). By taking a communist approach and eliminating profits, he fails to comprehend the improbability andShow MoreRelatedThe Communist Manifesto By Karl Marx Essay1426 Words   |  6 Pagescommunism. In the first chapter of his great manifesto, Marx argues that as the bourgeoisie, motivated by ruthless capitalism and industrialization, accrued more and more wealth, the proletariat would gain class consciousness and move from being a class in itself to a class for itself; in essence, the growth of capitalism would paradoxically be its own undoing. 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