Question

In 250 words describe Karl Marx predicted the downfall of capitalism. How do world events during the past fifty years indicate flaws in his prediction? please type

Answer 1

• Karl Marx emphasised the basic importance of the individual or the group of individuals in the economic structure as a criterion of stratification.
• Social stratification is nothing but the arrangement of society into different layers of vertical groups.
• He made class the central aspect of his analysis of society
• He believed that primary function of the social organisation is food,cloth,shelter.
• Therefoere production system is the class where other elements of society organised.
• According to him there are 3 main classes according to the means of production.They are

1. Capitalists-owners of the means of production receiveing profit
2. Workers-who are employed by owners and receive wages
3. Land owners -who receive rent

• He classified the people as

1. Bourgeoisie -capitalist
2. Proletariat -worker

• Petty bourgeoisie are the transitional class from where one group goes up and one goes down.
• There is an antagonism between bourgeoisie and proletariat.
• He also gave details about

1. Class In itself-german an sich
2. Class for itself-german fur sich

• Class An sich is the class who do not understand their class position and the class fur sich have class consciousness and the class which is really fighting for itself.
• Class fursich develops into a dominant class and there should emerge a class struggle.
• Marx is of the view that communist party was assigned the responsibility of developing fur sich attitudes among proletariat.
• Marx is of the view that wages will depreciate with time,but the actual is quite opposite.
• He thought that the capitalism will fall down . But it didn't happen actually the reason for the downfall of capitalism is capitalism itself.people have to compete themselves to live in this capitalist world.
• His concept of down fall of capitalism is proven wrong by many other thinkers like Max Weber and some functionalists.