How Does Socialism Replace Capitalism

Socialism and communism are alike in that both are systems of production for use based on public ownership of the means of production and centralized planning. Socialism grows directly out of capitalism; it is the first form of the new society. Communism is a further development or "higher stage" of socialism.

Competition between private owners of production creates lower prices, greater efficiency, and improved quality. People are motivated to do their best when they see the results of their effort. Capitalism aligns the incentives, and people thus are motivated to work hard and overall help the economy. People have economic liberty. Socialism removes these incentives.

Adam Smith and Karl Marx were completely contrasting economists throughout their time and had an enormous effect on the world and the way we view economics. They represent the ideas of capitalism and socialism.

Karl Marx has his own theory that history is made up by class struggle which he mentioned in his book – Manifesto of the Communist Party: “The history of all hitherto existing society is the history of class struggles.” (Marx and Engels, 1848) and had predicted that the Proletariat would lead a revolution to overthrow the Bourgeoisie. Karl Marx believed that there will be intrinsic conflict like exploitation, alienation of labour and commodity fetishism between both of the classes. In this essay, I will elaborate more on the above

Karl Marx and Friedrich Engels express their major critiques and opinions on capitalism in their 1848 publication of The Communist Manifesto. Their critiques are based around the idea that capitalism is simply unfair, meaning that one class benefits significantly more than the rest. The class that benefits least from capitalism is the proletariats. This unintelligent labor class suffers from the capitalists dominance, and is unaware of the damage they are experiencing. George Orwell’s depiction of Boxer in his novel, Animal Farm, fits precisely into Marx and Engels’ negative critique of capitalism by representing a strong symbol for the proletariat class and succumbing to the powerful demands of the capitalists.

Marxism is an economic and social system. Holland Arrowsmith explains Marxism as a term which refers to “a hugely diverse set of social, economic, philosophical, historical and cultural theories”. Several theories such as social, economical, political and critical theories have been derived from Marxism philosophy. Marxism advocates equality amongst the class structure of society. Marxism is divided into two fundamental classes. According to Marx there are only two classes which exist: Bourgeoisie, which means powerful or dominant class and Proletariat, which means the peasant or working classes. Bourgeoisie, which gains the power, defines superstructure “including all social and legal institution, all political and educational systems, all religions and all art” (Bressler, 162), and articulate the ideology which is based on profits of bourgeoisie. The bourgeoisie ideology leads to alienation of individuals, especially proletariats. This bourgeoisie ideology creates the clash between the two classes. Marx supported the working class and their victory over dominant class. Marxism believes in providing equal opportunity to the working class as that are available to the

Communism and Socialism which are regarded as the two different shades of Marxism are often used inter-changeably. Both the systems are opposed to the capitalistic system and share some similarities as well as differences in their approaches. The theory of Communism developed by German philosopher Karl Marx, is both a political and an economic system that is based on the collective ownership of the production of goods. The word Communism has been originated from a Latin word meaning “common”. Communism rejects individual ownership of industry, and promotes the manufacture of goods in order to satisfy the basic needs of the economy and the people. In communist societies, production for individual

Sexuality is often defined as the way an individual identifies their sexual orientation, desires and with whom, however human sexuality does not tend to fall into neat categories. Many philosophers such as Karl Marx have built upon theories regarding human nature, including our sexuality to further explain who is in control of power, who is being marginalized and how human sexuality intersects with other axes of power such as race, gender and class that produces societies norms. Although Marx did not have much to say in regards to sex, he believed that human nature, including our sexuality, is shaped by society and as a result changes historically.

According to Marx society was divided into two classes that were in eternal conflict in the battle for resources, or as Marx coined; “the means of production”. The first class were the bourgeoisie, which Marx described as the sole owners of the means of production as well as the media. The bourgeoisie used their power and influence to exploit the second class, which Marx called the proletariat which consisted of all the workers of the world. Marx rejected the idea that the wealthy pulled themselves from their own bootstraps, which he called “false consciousness” and in return coined the term “class consciousness”, which referred to a persons awareness of their own social status, especially in terms of class conflict. Overall, Marx concluded that social order is created maintained by domination and power. More so, to Marx money was everything. Money was the access to not only the means of production but many other lavish things, including healthcare. Marx would describe the meaning behind these graphs as the bourgeoisie using their wealth to ensure themselves to a longer and easier life, whilst the proletariat would have less access to healthcare, and thus be caught up in trying to keep themselves healthy rather than becoming “class conscious” and creating the worldwide worker’s revolution that Marx once dreamed

The individual by pursuing his economic self-interest simultaneously profits the all others’ economic self-interest of that society. Since each individual acts unhampered by government rules in capitalism, it causes the creation of wealth in a very efficient manner which then ultimately causes the rise of the living standard, the increase of the economic opportunities, and the rise of the supply of products. Therefore, when an economy functions with a free-market system everyone has the chance to create wealth for himself and in the same time he simultaneously creates opportunities for everyone else interests. This means that while the rich becomes richer the even poor one becomes richer. Such like, the Capitalism serves everyone for achieving their economic self-interest, including non-capitalists. This results in prosperity, accelerated economic growth, and in progress of science and technology. Even though Capitalism naturally has certain divisions and may be of different kinds it is still less authoritative than centralized government as it is under Socialism. While the people are not commanded on how to use their wealth or power means that they will have more access to these two

Social inequalities can be described as the differences in “income, resources, power and status” (Naidoo and Wills 2008, in Warwick-Booth 2013, 2) that advantage a social class, a group or an individual over another, and thereby establish social hierarchies. It also affects inequalities in regards to gender, race, access to health and education, and general living conditions. In sociology, the dichotomy between the conflict theory approach and the functionalist approach has led to a discordant opinion in regards to social inequalities. The conflict theory seems to admit that social inequalities needs to disappear in order to install a common and equal base for all individuals, whereas the functionalist approach believes that social inequalities

In a true Communist society all citizens are given food, clothing, shelter, and dignity; subsequently, communistic communities work collectively toward similar goals, and this ensures that the struggle or goal of one is the struggle or goal of many. There is a strong belief that someone's work performance is its reward and self-satisfaction, not a huge salary. From the Karl Marx Manifesto, "Only in this pure communist state, would people enjoy real freedom" (Sparknotes, 2014).

During the establishment of the Qing dynasty, China’s economy was in a period of expansion. Due to a long period of peace and prosperity.

The key concepts that I will discuss in this assignment are the theories and ideas of Karl Marx on Alienation, Exploitation, Materialism and Class struggle. The objective of this assignment is to examine the literature written about Karl Marx in order to clearly present his main ideas and theories in relation to work and capital. In the second part of my assignment I will discuss what relevance these theories and ideas have in today’s world. Karl Heinrich Marx the philosopher and revolutionary socialist was born on the 5th of May 1818 and died on the 14th of March 1883. He was born in the city of Trier in Germany and studied law in Bonn University. He based his ideas and theories on social structure, economics and politics.

Capitalism is an economic system characterized by private ownership of resource and markets (Tucker, 2011). It is called free enterprise system or laissez-faire. This system emphasizes the ability of individuals to create and accumulate wealth for its own self- interest. In the context of capitalism, individual is not only refers to one person but it also can be seen to a group of individuals such as company. In addition, the government cannot intervene in any economic activity but only maintain law and order in the country. Capitalism also provides many incentives to consumers, producers and owners of economic resources to use the resources available to them as soon as possible. This situation is considered as economic efficiency because it refers to the full utilization of factors of production. According to Jain and Khanna (2006), mixed economic system is a synthesis of characteristics of both capitalism and socialism. Mixed economy has two main focused which are social welfare and government interference in economic activities. There are some differences between capitalism and mixed economies.