Question

Critics of Marxist Socialism say that a socialist system gives no incentive or motivation to the workers. What do they mean by this? Discuss why you agree or disagree with it.

Answer 1

Marxist socilism is an ecnomic system in which all means of production are owned directed and controlled by government or any other ppublic authority. That means factors of production like land, labour, capital and eunterprenership are owned and controlled by the government or public authorities. Hence returns to all these factors are fixed or decided by government.

For that matter wages to the labourers are not dittermind by demand and supply conditions but fixed by the government. For example this much for this job or this profession and the like. So government fixes the wage according to their profession without considering their productivity or competency.

Hence every worker of the same profession receives same amount of wage despite of their differences in productivity as the system totally based on equality. This really demotivate the labour force and compell all workers to produce at a minimum level, irrespective of their productivity as their efficiency or productivity will not be taken in to account and give nothing more to them as wages.

So I disagree with this system. Because we have unlimited wants in the economy. We have to produce more to satisfy those wants. At the same time man need money to survive. He is ready to work hard to earn more money if the system allows and motivate them to do the same.In both the above cases marxist socialism incredibly fails.So production to satisfy all wants may be badly affected as well as productivity of the labour force also may be badly affected as their is no incentives for labour to produce more.