Question

Does Karl Marx’s critique on capitalism apply in the modern world? Is capitalism still exploiting labor and causing inequities? How are politics involved? Should the profit motive be central to all human activity?

Answer 1

Yes critique on capitalism apply in the modern world. According to Karl Marx , capitalists derive wealth from exploitation of labor and then concentrates wealth and power with in the society and controls the means of production. Forces at works in a capitalist economic system bring about increase in the rate of exploitation of labor. Capitalists achieve profit by exploiting labor force. Their surplus value or rate of exploitation may be raised by increasing the intensity of labor. They forces the workers to to greater amount of work while keeping working day constant . Capitalism is still exploiting labor and causing inequalities. Workers under capitalism are compelled by their lack of ownership of means of production to sell their labor power to capitalist for less than the full value of good. Minority capitalist working class exploit the majority working class for achieving profit over social good, natural resources and the environment. And therefore capitalism being an engine of inequality and economic instabilities Politics involved in economic and capital system in which economic and political elite cooperate for their mutual benefit. Capitalists influence the government policies to use regulation, government spending and designing pf tax system to maintain their elite status in society Yes profit should be the central to all human activity. The aim of all economic activities are actually conducted by human for making profit and money. It includes producing of good and services, selling them,etc. Because all activities are conducted by human to earn their livelihood