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What is Marx’s argument against the economic inequality that arises from the free market? Is he correct?

Date Posted: 30/07/2018
Category: Political Science
Due Date: 30/07/2018
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  • Name: Tutor: Course: Date: What is Marx's argument against the economic inequality that arises from the free market? Is he correct? "The Communist Manifesto" explains how a capitalist society creates two classes of people. Karl Marx arguments were based on the idea that a modern society contains two classes of people; the proletariat and the bourgeoisie. The proletariats are the workers while the bourgeoisie is the owners of production means; the businesses, equipment, and the factories that are used to produce wealth. The work by Karl Marx focused more on the materialistic perception of people and the commitment to the political activities an end goal. The free market is a system of economics which works to maximize the role of markets by reducing the government interactions. Marx argues that the free market promotes economic inequality where wealth concentrates on the hands of the few rich people.
    eveey | Jul 30, 2018, 22:01 PM
  • Marx is correct since the system aims at promoting self-interest and amassing personal gains rather than the betterment of the general society. Secondly, due to the arising competing, that is brought by a free market; there is a failure in matching demand and production. Thirdly, improvement and growth of industries turned the labor force to social force. There exist competing interests between the bourgeois and the proletarians. The workers always aspire to receive high wages. It is only achievable in an ideal world where self-interest and greed are in existence. However, there is a struggle since on the other hand, the bourgeois is out to maximize profits and lead among the competitors who are in similar trade or business. On the way of maximizing profits by keeping the labor cost or wages as low as possible.
    eveey | Jul 30, 2018, 22:01 PM
  • Marx believes that capitalists exploit the laborers through the concept of property rights and by denying them a fair share of profits. Marx explains the exploitation of labors through expounding on how the workers work so hard to generate more than enough profits which result to surplus value. However, the owners will not give a rise in wages as a result of increased profits due to self-interest. Moreover, under capitalism and through the property rights, the bourgeois has exclusive rights to the surplus value and profits which is generated by his/her workers. As a result, the capitalist becomes rich while the economic and social conditions of the laborers remain unchanged. Therefore, economic inequality becomes even more apparent.
    eveey | Jul 30, 2018, 22:02 PM
  • Marx argued that the capitalism would only thrive at the expense of exploiting the working class. He also believes that there is a contradiction between the nature of humans and their ways of working in the capitalist society. Marxists also argued that to control the Proletariat; there is the need to use alienation in all aspects of society, family, media, and education system. This theory shaped the system of education largely. He also argued that the economy is a failure without the education system. Without education, there would be no jobs thus unemployment. He believed that education controlled the Proletariat and the Bourgeoisie so that there are workers to produce goods and services and people who benefit from them.
    eveey | Jul 30, 2018, 22:02 PM
  • The perception of Marx included that a class conflict by the capitalists would only arise due to the contradictions from the highly productive mechanized and the socialized production. It is performed by the proletariat, together with the private ownership and the appropriation of profit (surplus product) by a very small minority of the people who are the private owners referred to as the bourgeoisie.
    eveey | Jul 30, 2018, 22:03 PM
  • According to Marx, the bourgeoisie in the society exploit the proletariats to make surplus profits. The owners of the business only pay the workers what is enough for them to afford a place to live and eat only. As a result, the workers become slaves to the bourgeoisie to afford basic needs. In return, the workers get a false consciousness that they are well off and that they can count on their bosses in creating their wealth.
    eveey | Jul 30, 2018, 22:03 PM
  • True economic equality should result to everyone achieving equal economic power by giving same economic contribution in a free market. It should focus on creating a just society. It means that workers are paid equal measure the talents and skills they provide for the capitalist. Moreover, workers pay for training to acquire skills and become professional in what they can do best; they ought to be rewarded for their input in the business. Additionally, the success and the growth of the business depend on the productivity of the workers. If the workers are poorly rewarded, they are less likely to be motivated in their work. If they are a fairly rewarded, the will be motivated and increase their productivity.
    eveey | Jul 30, 2018, 22:03 PM
  • Conclusion A capitalist system entails private ownership of production means. It provides a platform for individuals to own and trade or business to promote a free market and competition. While it promotes a concept of democracy and individual rights, critics argue that this system leads to economic inequality. I concur with Karl Marx that there is inequality in the capitalist system. This is because; capitalism creates discord between the bourgeois and the proletarians. According to the discussion above, Marx argued that the economic inequality is due to the original creation of two social classes under a capitalist system arrangement resulting to a conflict between these two classes due to unfair distribution of surplus and profits and competing interests. According to "the Communist Manifesto" the aversion of Marx against the capitalist system, coincides with his support for communism and socialism.
    eveey | Jul 30, 2018, 22:04 PM
  • Work cites Marx, Karl, and Friedrich Engels; "The communist manifesto (1848)" Trans. Samuel Moore London: Penguin (1967). Marx, Karl. "Economic and philosophical manuscripts of 1844, In ‘Early Writings’" (1975)
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