Karl Marx
Karl Marx was philosophers who asked the daring questions on the theme like atheism and communism. He is renowned for producing the Communist Manifesto together with his compatriot, Engels, who worked in Rhineland later in Manchester. Engels noted the division of society into classes and poor conditions in factories. The two provide elaborate details on social and economic structures. The nature of Capitalism described manifest in the modern industrial and socio-political settings.
Firstly, Marx and Engels held that society is built on an economic basis. People must organize their activities and interactions to facilitate the provision of needs. This superstructure is bound by law and supervised by a government inspired by religious or philosophy ideals influenced by forces in society. Marx demonstrates that economic factors group society into structures with a typical relationship on production. A change in the position of either party disrupts social order (Heilbroner 139). So, changes alter the fabric of society and rearrange the division of social wealth. The communist manifesto emerged as a powerful agent of economic reform as society partakes in a ceaseless struggle to share the social wealth.
Then, Capitalism leads to a monopoly over means of production. Marx observes that own capitalist jobs, including equipment’s and machines but, lack the labour. Limited positions make a demand for labour higher and wages low. In this system, employees are cheated and forced to work for extra time to attain self-substance. Also, Marx explains that payments tend to rise because the capitalist is in constant competition to accumulate and gain control over means of production. Rising wages necessitate invention in new machines and technologies to counter an increase. As competition intensifies, organizations implement labour-saving techniques to a point where profit is not tenable. As a result, it leads to bankruptcy and the beginning of the next cycle. In this instance, Karl Marx conceptualizes the regular business cycles in capitalist economic order (148). The world has experienced different cycles, and the United States was recently hit by the 2008-09 financial crisis as a result of the collapse in the mortgage, market.
Finally, Marx observes that recurrence of the business slump or eventual recession leads to monopoly and oppression in society. The proposition presented in das capital describes capitalist drama characterized by workers and capitalist. The landlord is eliminated from the picture (144). As competition continues to dominate production, profits are discarded in favour of significant producers who adapt to social changes. In response, there is growth in revolt by the working class because of capitalist lead to the misery, exploitation, and slavery of the working-class. Capitalism squeezes out the benefits and synergies of surplus production. Marx explains that the divisions occur as a result of private ownership. Private ownership is anchored on industrial production, which disorganizes the economic system leading to depression. Workers act as free bargaining agent. They have the labour-power while the capitalists’ greed for wealth and power oppose the interest of the worker. Capitalist aims accumulation in the competitive environment and worker’s labour offer them a livable wage.
Therefore, Marx, the structural nature of society, would be eliminated if the community owned means of production. The type of Capitalism described in the book implies that a government should be in place by rising above all the interest of a particular class. Besides, Marx explained the nature of Capitalism, including its instability tendencies, centralization of wealth, control over input, and massive industrialization. These elements remain critical factors in modern economic setting and explain numerous outcome in a capitalist economic order.