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Capitalism from a Marxist Perspective - Coursework Example

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"Capitalism from a Marxist Perspective" paper states that Marxist perspective showed new rays of hope to the laborers, students, women, and peasants alike. His notion of the division of labor on gender basis gave birth to feminism, which served as a powerful echo of Marxism against the inequalities…
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Capitalism from a Marxist Perspective
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Download file to see previous pages The first of the economic systems look for allocating all the resources to private ownership, where the entrepreneurship enjoys the lion’s share in production and profit generated out of industrial works, manufacturing and trade and commerce activities; consequently, the workers find their least share on the basis of the growth level and increase in the profit volume, and have to stick to the limited wages they have been obtaining in past. Hence, in a capitalistic economic system, neither the fate of the laborer's change nor they contain any hope of becoming financially sound or prosperous in life. On the other hand, the second economic system i.e. socialism lays stress upon the nationalization of industrial units and commercial estates, where the individuals are equal shareholders in the business activities and profit earnings. It is due to the fact that socialism is determined to distribute the wealth and resources to the workers belonging to different categories and classes on the foundation of equality and moral values so that no stratum of society could be deprived of the fruit of the hard efforts it has made for the growth and progress of an industrial unit, a factory, a mill or an economy. It is, therefore, the Marxist theorists declare capitalism as the condemnable system of exploitation and maltreatment of the weaker groups and communities of society at the hands of the rich and powerful individuals. Hence, capitalism, according to Marxists, is a form of slavery, where an overwhelming majority of the population serves as the slaves of the capitalist exploiters. Karl Marx, the illustrious leader of German Communism, justly observed in his magnificent work Das Kapital that if the contract freely entered into by the vendors of money -in the form of wages - and the vendors of their own labor -that is, between the employer and the workers - were concluded not for a definite and limited-term only, but for one's whole life, it would constitute real slavery. (Maximoff, 1953) Before embarking upon the topic under study, it would be advisable to define Marxism in brief, which is as under: ...Download file to see next pagesRead More
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