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  • Essay / Strengths and Strengths of Marx's Analysis of Capitalism

    Evaluate the strengths and weaknesses of Marx's analysis of capitalism. Marx's explanation of capitalism is a widely recognized theory in a political, economic and social sense. His analysis of capitalism aims to explain how individuals allocate themselves and their resources to satisfy their basic human needs. He believes that the production of goods can be characterized by two main characteristics: the forces of production and the relations of production. Forces of production refer to how people provide for themselves, this includes: land, labor and capital and relations of production, which refer to the social relationships that dominate the productive capabilities of a society . He distinguishes the masses. called “proletariat”, who produce goods for the benefit of a dominant class of owners of capital, the “bourgeoisie”, and receive a salary in exchange for their work. Marx explains that the bourgeoisie, however, exploits the work of its employees by paying them wages lower than the market value of the goods they produce in order to make a profit itself and to enable future investments. Marx argues that the forces of production result in a set of social relations that result in conflict between the proletariat and the capitalists, which is the nature of capitalism. Profits and investments allow the bourgeoisie to continually accumulate capital and become more and more powerful. Furthermore, competition among capitalists makes the bourgeois group smaller and smaller, and a larger part of society will become part of the proletarian group. Therefore, society would then be divided into a very small number of capitalists exploiting and oppressing a large number of poor proletarians. He also believes that, as in middle of paper, the inevitable triumph of the proletariat and then stopping, even though history shows that the class struggle is over, there has been no sign of a world revolution. . Another flaw is the suggestion that this would happen first in the most advanced economies as the final stage of capitalism, but this has only been detected in less developed economies like Russia and China. According to Marx's analysis, he states that developed democratic countries will adopt a communist approach, but it is clear that the majority of countries today still live under capitalist approaches. He claims that capitalism will be eradicated and replaced by communism, but in reality capitalism still exists. Capitalism may, however, be different from how it was perceived in Marx's time. This is because capitalism has adapted and evolved since Marx's analysis, but it still exists. Marx's analysis fails