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Using Marx's concepts and methodology, analyze a specific news story, feature article, column, editorial, cartoon, advertisement, video, etc. published since January 1, 2014 - Essay Example

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According to Jonathan Gilbert, the author of this article, high inflation rates have left the Argentines in poverty and misery. According to Diego Gomez a father of…
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Using Marxs concepts and methodology, analyze a specific news story, feature article, column, editorial, cartoon, advertisement, video, etc. published since January 1, 2014
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Application of Marxism in Modern World Introduction The following article will help us understand Marx’s theory of communist evolution which involves the struggle of social classes within the society.
According to a recent article by the New York Times, soaring fuel prices are frustrating the weary Argentines. According to Jonathan Gilbert, the author of this article, high inflation rates have left the Argentines in poverty and misery. According to Diego Gomez a father of four and earns $800 a month, his salary is not enough just for everything. Diego says, “it is unfair that we suffer”, referring to the 19% devaluation of the country’s currency due to the recent shock waves affecting the country (JONATHAN GILBERT).
Inflation in Argentina
According to Carlos F Angelis a sociologist in the University of Beunos Aires, inflation is their major concern. According to unofficial but reliable information, the Argentines are currently faced with a nearly 30% increase in prices from 2013. It is however, estimated that things will move from worse to worst with a further projection to 45% in this year and further 56% in Venezuela occur. Interestingly it has also been noted that women have been taking their men to court as a way of seeking for alimony payments due to the tough economic times. Moreover, the informal sector has not been left behind from this wind as it is reported that even the extortion racket has doubled its fee of its so called protection over the past year. The president of the central bank in this country also confirms the case of rising inflation as he reported a 25% increase in monetary supply in 2013 alone which aimed at cushioning the government’s budget deficit.
Marx’s Theories
From the above sentiments it is possible to connect some of the Marx’s theories. For example, it is evident that human society is progressing through class struggle as a conflict between an ownership classes that controls the production is existing with those poor citizens who provide labor for production. It is no wonder Butros Sandra a 50 years old businesswoman running a market stall says, “they are toasting Champagne while the people become divided”. According to Marx, the bourgeoisie who are wealthy control the wealth at their own benefit and this would definitely lead to tensions something that is already eminent. This idea is further supported by Tucker-Marx-Engel reader (Karl Marx Friedrich Engels Robert C. Tucker pg 78). This is also the central argument proposed in this article and theorists Marx, Engel and Tucker.
From the case study we are made aware of Venezuela which is already suffering from social unrest. According to Marx these are the tensions that accrue when a few wealthy personalities control the economy. To support this claim further, the case study mentions Martinez Lucia a 60 year old nephrologist who identifies the increased prices as an undercover coup against the government from the few wealthy officials pointing out business executives of the Royal Dutch Shell as culprits. This is a utopian socialist theory which only aims at benefiting the few in the society. However, Marx criticizes this theory and argues that only large scale changes in the economic system can bring about real change something that is really necessary for the Argentines.
In conclusion, Marx is regarded as one of the most important economist in the world. Before he died he predicted that the communist revolution would occur and it would result from the class struggle from the working conditions that most people face. It is indeed very true as this is what has been the case with Argentina recently. Marx has been inadequate in explaining the reason for the skyrocketing inflation and the shock waves that affect those countries.
Works Cited
JONATHAN GILBERT. Soaring Prices Fuel Frustrations Among Weary Argentines. 13 March 2014. 19 March 2014 .
Karl Marx Friedrich Engels Robert C. Tucker. The Marx-Engels Reader. New York: Norton, W.W & Company, 1978. Read More
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