Like mainstream neo classical theory Marx does not offer a theory of price. He is instead interested in seeing the mechanisms of capitalist reproduction. He would not deny that there are huge differences between concrete capitalistic societies. Marx‘s critique of capitalism further includes the following; Commodity production,Commodity Alienation and Fetishism ,Exploitation.Capitalism, Law and Government Marx recognized the emergence of crisis and its resolution The development of capitalism and the Bourgeois revolution dialectically and inadvertently produced a new agent, the proletariat. "What the bourgeoisie, therefore, produces, above all, are its own grave-diggers.
Anxiety can be assumed one of the institutive mechanisms of neoliberalism. In the lights of that, Jean and John Comaroff evaluate production and accumulation processes in terms of how symbols and meanings are interpreted. The changes in the process of production affected people so that they manage their social and economic life in terms of their interpretation of neoliberal forces. They used millennial capitalism so that they tried to show the results of it. “To the degree that millennial capitalism fuses the modern and the postmodern, hope and hopelessness, utility and futility, the world created in its image presents itself as a mass of contradictions: as a world, simultaneously, of possibility and impossibility (Jean Comaroff and John Comaroff,
Marxism is the economic and political theories of Karl Marx and Friedrich Engels. Marxism’s main concern is to expose the political and economic contradictions inherent in Capitalism and to lead the way towards establishing a Communist society. Marxism emphasises the idea that social life is based upon conflicts of interest, the most important of which is the conflict between the Bourgeoisie, the upper classes and those who control the means of production in society, and the Proletariat, the lower classes and those who sell their labour to the Bourgeoisie. Because the ruling class controls society’s means of production, everything, including ideology, will be determined according to what is in the ruling class’s interests. Marx believed that
THE MARXIAN THEORY OF CLASS AND ITS RELEVANCE IN THE POST INDUSTRIALIZED SOCIETY. This essay examines the Marxian theory of class struggle and alienation with specific emphasis on the concepts of bourgeoisie and proletariat. The concept is illustrated on the basis of the movie ‘The bicycle thief’. Karl Marx’s theory of class was mainly based on the materialistic representation of history. His ideas were so radical that they inspired revolutionaries.
Gurley (1984), Karl Marx 7 major contributions to political economy such as he established a framework, investigated the production and circulation processes of industrial capitalism, studied the processes of capital accumulation, one can find an economic theory of the state in Marx's writings, explained how workers are mystified by the system of capitalism, alienated within its production sphere, and misled by false solutions to their problems, investigated the future course of global capitalist and socialist development, and he examined the impact of capitalist expansion on less-developed countries an sketched outlines of the future socialist and communist societies. For the main element of Marx social theory such as all societies are stratified into distinct groups and classes, society is a product of class struggle and social change is more revolutionary than evolutionary, society is a totality, a structure of interrelated levels, social processes are never homogenous and uniform, but contradictory and dialectical, society and history are characterized by certain laws, but it is man who ultimately makes the world through his actions and praxis and class society is held together as much by ideology and as much by
In the theory of Marxism, the main focus is on the division of labour in the different social classes and how they change over time. Marx was interested in how the capitalistic society operated and how contradictions and conflicts of interest were a result of alienation in the society. The overexploitation of the majority party by the minority was a great concern to Marx as he believed that people should be rewarded depending on the amount of labour they put in. Contradictions arose from this inequality and questioned how far people will go for personal gain. In order to properly understand the contradictions of a capitalist society, key concepts such as the structure of capitalism, social theories and how Marxism works must be taken into consideration.
B. Marxist: Marxism is a system based on the theories of Karl Marx. These theories formed the basis of both socialism and communism. He believed that the struggle of workers would progress into a socialist society and then into a classless society (!). The classless society is known as communism. The struggle of workers was the exploitation of a person’s labor by capitalists.
There is the economic level where the activities of human beings are to produce goods and services which satisfy people’s needs. Some criticisms of this would have come from the late JK Galbraith who would argue that capitalists often own the means of production and stimulate artificial demand. At the political level there are a number of different forms of organisation and in practice in modern societies they have often been extremely rigid. There is also an ideological level so that we can see the ways that people see themselves and the world is partially determined by the media within the communist
Marx also thinks that what the workers want it to feel less alienated. This includes feeling alienated from the product, the process and more .He thinks that under capitalism the only think the bourgeoisie want is profit and to become richer. Marx also speaks about how capitalism will fall and how it will affect the state. He says with the fall of capitalism a revolution will start that will be lead by the proletarians and the intelligentsia. Some of the key problems that Marx associates with the capitalist system are the fact that he think that racism, sexism and heterosim are all by products of capitalism (Romkey, 2018).
What did Karl Marx explain in this theory? Research Methodology I have used Qualitative method of research. In this research I have tried to broaden my concept and ideas about Karl Marx and his role in surplus value. MARX wanted a communist state where equal distribution of all resources .why always lower class is suffers in this society. Why Capitalist are not given Labor wage according to their profit and gain all profit?