Q: The crisis of capitalism that Marx predicted has failed to materialize proving Marx wrong. Discuss. Karl Marx (1818-1883) was a revolutionary as well as a notable thinker; through out his life he worked on politics, economics, philosophy, sociology, class struggle and history but for the most part he dedicated his life to the overthrow of the capitalist order, which he accused as responsible for the degradation and enslavement of the vast mass of its population. Marx was the Co-founder of Marxism(with Engels), the Theory of Surplus Value, alienation and exploitation of the worker, The Communist Manifesto, Das Kapital, Materialist conception of history. Marx worked on his intellectual work started under the influence of G.W.F. Hegel (1770-1831) who in the 19th Century Germany was the dominating philosophy. The Young Marx was, during this time, mostly concentrated on criticizing the ideas of political economists and analyzed things from a more humanistic and philosophical point of view. The older Marx had a clear preoccupation with economic analysis and there was again arguably, a disappearance of Hegelian terms in his writings. Marx was straight forward in his approach to capitalism and argued that the capitalist system just like the previous socioeconomic system will inevitably produce internal tensions which will lead to its destruction. Just as capitalism replaced feudalism, he believed socialism will, in its turn, replace capitalism, and lead to a stateless, classless society called pure communism. This would emerge after a transitional period called the "dictatorship of the proletariat": a period sometimes referred to as the "workers state" or "workers' democracy". His views and stance could be better understand by his comments in section one of the Communist Manifesto of feudalism, capitalism, and the role internal social contradiction plays in the historical process; "We see then: the means of production and of exchange, on whose foundation the bourgeoisie built itself up, were generated in feudal society. At a certain stage in the development of these means of production and of exchange, the conditions under which feudal society produced and exchanged...the feudal relations of property became no longer compatible with the already developed productive forces; they became so many fetters. They had to be burst asunder; they were burst asunder. Into their place stepped free competition, accompanied by a social and political constitution adapted in it, and the economic and political sway of the bourgeois class. A similar movement is going on before our own eyes.... The productive forces at the disposal of society no longer tend to further the development of the conditions of bourgeois property; on the contrary, they have become too powerful for these conditions, by which they are fettered, and so soon as they overcome these fetters, they bring disorder into the whole of bourgeois society, endanger the existence of bourgeois property.” (Karl Marx) On the other hand, Marx believed that socioeconomic change occurred through an organized revolutionary action and argued that capitalism would end through the organized actions of an international working class. "Communism is for us not a state of affairs which is to be established, an ideal to which reality [will] have to adjust itself. We call communism the real movement which abolishes the present state of things. The conditions of this movement result from the premises now in existence." (From The German Ideology) This research paper focuses on the crises of capitalism that Marx predicted and discusses the reasons weather they have failed to materialize or not. In order to fully understand what Marx meant we must first look at the capitalist system and the possible loop wholes of the system that made Marx associate crises with it. Capitalism typically refers to an economic and social system in which the means of production (also known as capital) are privately...
Bibliography: (1). Karl Marx
“The Communist Manifesto”, chapter 1
(2). Peter J. Martin, W.W. Sharrock, John A. Hughes, 1999, “Understanding Classical Sociology: Marx, Webber, Durkheim”, London:
(3). Justin Schwartz, 7 December 1994, “What is wrong with exploitation?”, “Nous 29”, pp.158-188.
(4). John E. Roemer
(5). Secondary sources:
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