The Flaws of Capitalism
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This paper discusses the flaws and inequality in the capitalist structure and asserts that the economic progress that the capitalist nations are proud of is as flawed as Marx contended it would be. The paper looks at Barbara Ehrenreich's odyssey through the lower depths of the US employment structure, "Nickel and Dimed," to demonstrate that as social mobility decreases, the rich get richer and poor get poorer, fulfilling Marx's prediction for a struggle between the classes. The paper discusses, however, how the revolutionary ideology of Marx is not very feasible in reality, with reference to George Orwell's fable, "Animal Farm" as evidence of its limitations.
From the Paper:"The characteristic course of capitalism, its laws of competition lead to the absorption of the smaller capitalist by the larger ones. The resulting accumulation of wealth increases the competition and brings about the concentration and then the centralization of capital in a few hands. This is the core concept of Marxism presented in the Communist Manifesto. When Marx and Engels speak of classes they refer mainly to economic groups. The existence of classes with conflicting interests is a universal historical phenomenon. In ancient times it was a struggle between masters and slaves and between patricians and plebeians.
"Now it has been narrowed down to a struggle between the class of capitalist and proletariat. Marx and Engels believed that in different countries, the working class would come, sooner or later into possession of political power by various means. Replacing the efficacy of Capitalism with Communism Marx, suggested that an equal society should be created where the concept of private property was abolished to create a level ground of economic development for every individual thus eliminating inequality. This society from Communism would develop into Socialism and become ultimately a Utopia."
Cite this Persuasive Essay:
The Flaws of Capitalism (2003, November 12) Retrieved April 19, 2021, from https://www.academon.com/persuasive-essay/the-flaws-of-capitalism-37954/
"The Flaws of Capitalism" 12 November 2003. Web. 19 April. 2021. <https://www.academon.com/persuasive-essay/the-flaws-of-capitalism-37954/>