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Marxian Theory: The Rise Of Modern Capitalism

1981 Words8 Pages

Introduction The rise of modern capitalism has brought forward a comprehensive reformulation of Marxian theory, particularly in regards to the concept of alienation described by Marx and Engels in The Communist Manifesto (Marx and Engels, 2013: 10). The main argument to be put forward in this essay revolves around the idea that the Marxian theory of alienation is relevant for the purposes of understanding the manner in which contemporary capitalism operates. However, Marxian theory fails to explain why working people have embraced global capitalism; particularly in the Western world, where the workers have accepted the prevalence of technology and consumerism. In accordance with Marxian thinking, by doing so, they have intertwined their needs …show more content…

The capitalist system, in its current conception, has fragmented the working conditions in which labour is produced (Wendling, 2009: 81). The de-industrialisation of many parts of the Western world and the rise of a mass of self-employed people have created a further intertwining of the interests of working people with the dominant class (Friedman, 2005: 51). In other words, in order to survive in the technologically-driven environment of the age of globalisation, the workers are impelled to accept the workings of capitalism, instead of opposing them (Marcuse, 2002: 21). In this context, it is possible to argue that Marxian view of alienation is useful in order to explain certain aspects of modern capitalism. However, Marxian theory fails to shed light on why the workers have not revolted against this state of affairs (Wood, 2004: 43). In fact, the technological advances made by global capitalism have been responsible for the reformulation of the consciousness of the working person. The worker has therefore perpetuated his/her “false consciousness” in a manner that was not originally envisaged by Marx and Engels (Wendling, 2009: …show more content…

The Marxian theory of alienation is relevant in order to understand the way in which modern capitalism operates. Nevertheless, Marxian theory fails to explain why working people have embraced the values projected by modern capitalism (Rockmore, 2002: 20). As we have seen in previous sections, the workers have accepted the prevalence of technology and consumerism. In this manner, and contrary to the way predicted by Marxian theory, they have intertwined their needs and interests with that of the capitalist class (Wendling, 2009: 91). It is in this framework of reference that the Marxian notion of alienation should be appraised when evaluating the workings of modern

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