Karl Marx

Paper Summary:

The paper examines how the scandals in the American corporate world have taught us that capitalism may not be the ideal economic system. The paper discusses how interest in Karl Marx's writing, especially those concerning the ills of capitalism, has soared. The paper attempts to understand why capitalism was disliked by great theorists such as Karl Marx, and tries to better understand the Marxist view on capitalism. The paper further examines the strengths and weaknesses of the capitalist and socialist systems. The paper concludes that while capitalism in America may never find a suitable replacement in the socialist system, it can certainly learn something from communism's idea of fair distribution of resources and right to equal opportunity.

From the Paper:

"He argued that in capitalist system, workers are underpaid and overworked and this largely results in severe economic disparities, which further lead to social gaps. What we know about rich getting richer was actually a concept first introduced by Karl Marx as he believed that with capitalist bourgeois amassing wealth and using unskilled poor workers to achieve their objectives, world was likely to turn into a living hell for most urban poor. The modern bourgeois society that has sprouted from the ruins of feudal society has not done away with class antagonism."

Sample of Sources Used:

• Karl Marx and Friedrich Engels, The Communist Manifesto (1848) reprinted in Modern Political Thought: The Great Issues, ed. by William Ebenstein, (New York: Holt, Rinehart & Winston, 1960), pp. 413-22
• Ayres, Clarence E. Toward a Reasonable Society: The Values of Industrial Civilization. Austin: University of Texas Press, 1961
• W. Lloyd Warner; Marchia Meeker; Kenneth Eells ; Social Class in America A Manual of Procedure for the Measurement of Social Status: Science Research Associates: Chicago: 1949
• Jurgen Ruesch, Martin B. Loeb, et al., Chronic Disease and Psychological Invalidism; a Psychosomatic Study (New York: American Society for Research in Psychosomatic Problems, 1946).
• Joseph S. Roucek, Caste, Class, & Race: A Study in Social Dynamics. Doubleday. Garden City, NY. 1948.

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