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These among other economic predictions are some of the reasons that supplement Marx’s relevance in the present time.
The ideology of the social structures and economic interests dictate the political movements and intellectual conceptions of the people. This fact is evident in many circumstances in the present day. The political parties nowadays are controlled by the association of certain members of the public with clear and similar goals. These parties with a particular member associations define the economic state of the nation considering the people they represent. Marx developed this theory in 1840 so as to explain the different systems of royalism that France had that were affecting the social structure. In Marx’s view, he claimed that the economic interests revolved around the social groups (Schumpeter 2013, p. 20). Politically, it is possible to rise to power through reaching out to these groups and changing the economic status of a nation will certainly affect these groups.
In the last presidential elections of the united states of America the tea party which supported the candidate mitt Romney was formed as a result of being fed up from the taxes of the Obama administration. The tea party started as a social group that were of the opinion they were being taxed more than the usual and the fruits of their taxes were not being experienced. This led to an association of people who wanted to change their financial status, through the changing of the political setup to attain the economic interests of the members (Sperber 2013 ). This is an example of the current events that are applicable to the theories that Marx put out in assessing the leadership of a place relative to the economic status of the region.
The labor theory of value is also a Marx ideology which tends to describe the pricing of a commodity in relation to the cost of labor induced in production. A commodity
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The basic motives of Marxian theories availed much popularity in the beginning. Many got attracted to the new concept of materialism and economical distribution in the society. But soon it lost its feathers of recognition. In the age of globalization, the world changed its systems in social interaction, economic developments, life style, administrative system and international relations.
This study will review the ideas of Marx on capitalism and social change as well as the ideas of other writers to support the arguments on the study topic Marx theory of capitalism and social change Marx theory of capitalism was meant to criticise the past industrial capitalistic behaviors and enlighten individuals in an attempt to bring about changes in society in what was perceived to be the injustices and oppression caused by industrial capitalism in the 19th century.
The central theme of capitalism is to exploit wage labourers, provide an economy that supports competitive markets and ensure capital growth. In the capitalistic economy, goods and service pricing is determined by parties conducting business transactions and production is directed through the operation of free or mixed markets.
Even though more than two millennia have passes since the writing of the book, the suggestions and methods described by Aristotle are as valid today as they were when they were written. There are many reasons for that and they can be clarified with
The spectre that Marx believed will haunt capitalism is now history. More futuristically, Berger (1992: 16) hazarded a guess: “[t]he womb that gave birth to Marxist utopianism is not yet barren”. On the other
n in the region was the adoption of a common market, a major legislative programme that would eventually result to the elimination of non-tariff trade restrictions. The elimination of these barriers was targeted to create a lager integrated market for goods and services enabling