In capitalist society work and labour becomes the principle of consumption. Labour comes to organise society both in terms of production and distribution(1978:322) Alienation becomes overwhelmed by production and the worker is thus not aware of his separation from reality, it is overcome through production. Further, exchange or value as a central category is necessary but not sufficient, something more must be said about capitalism. In capitalist society, you are not only trying to get out what you put in, this would be a society based on exchange only and therefore it becomes obvious why exchange is not enough to understand capitalism. You would not make a profit if it were centred on exchange.
Additionally, for Marx, alienation is one of the main reasons why capitalism leads to communism. In the capitalist context of the 19th century, work was alienated. Labour was treated as a commodity, in the sense that workers were exploited to produce as much as possible for as little as possible so that the bourgeoisie could continue to make profit while the proletariats lived and worked in poor conditions. This lead to the alienation of the working class as they felt a disconnection from what they did all day and who they really are. To Marx, alienation is dangerous in a society because it denies workers “their human, creative origins” (Hampsher-Monk 1992: 499).
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.
However, this behaviour, as Marx believed based on Chris Hedges’ article, would cause capitalism to eventually exhaust its potential and collapse. Since capitalists are trying to gain as much profit as possible, there are no adjustments made in their conduct and decisions even though their actions are worsening the economic growth and social well-being in the country as a whole. Thus, capitalists keep competing with one another instead of cooperating with each other to solve the problems arising from their
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.
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). He says that discrimination is a part of capitalism and that it made to produce such types of discrimination. He also talks frequently about the fact that due to the conflict between the bourgeoisie and the proletariat many problems occur. This includes the fact that the bourgeoisie only care about the surplus value and could not care less about the workers that make the products that give them these profits. (Romkey, 2018).
While the laborers make ever more riches through progressing production, they additionally make their own suffering, getting to be themselves a commodity to be exchanged on the labor market. Capital, however, increases with continuous production and aggregation, inclining towards monopoly structures. The engine of this political economy is greed and competition, i.e., the war amongst the greedy. Pro-capitalist economists like to illustrate the rise economic systems by individualizing the primordial by presenting the lone caveman acting for nobody but himself, but Karl Marx objects in this illustration as it doesn’t present the immediate world as it actually is. Human beings are not isolated as they constantly
In contrast, the proletariat right is lost because the capitalist interest. All of that is to result a commodity and money. So that, it results the resistance of proletariat. According to Marx, employment enjoyed by everyone is to give satisfaction. Therefore, according to Marx, as it is written Isaiah Berlin, education is required for the proletariat so that they can be aware of their existence and how to fight for their rights.
Surplus Value is a distinction between a worker’s wage and the price of a good or service produced by that worker. This theory is stand on the detail that workers provide value through the labor used to produce goods and services. Karl Marx also believed that other economic concepts such as imperialism or capitalism, did not properly value the workers to produce goods or the surplus value created by their labor. This kind of value does not express the actual value of a physical economic resource or good. This added value is understood through the labor needed to produce the resource or good, which increases the value of the item above its original cost.