Marxism and Capitalism Flashcards
Why is Marx critical against capitalism?
While capitalism did advance a lot of things, the idea of capitalism in Marx’s time is different from what we experience today.
It is still evil in some way, but it has certain limitations.
Marx is critical of capitalism because during the industrial revolution, it was really awful and it really exploited the laborers, people had to be born rich to be a capitalist. It didn’t really allow people to progress. Now, Capitalism has enabled anyone from different classes to be wealthy.
Is capitalism evil? Why or why not?
Capitalism is amorale, subject to anomie or lack ethical standards. However, those ethical standards need to come from constant interventions of stakeholders, those in touch with the businesses. If you think of a monopoly of a telecom company, you’re gonna see a company with little practice of ethics because of the lack of competition.
It’s not good nor is it evil. It’s amorale and it needs constant intervention/ mediation from those in touch with capitalism.
Is the abolition of capitalism the solution for our socio-economic problems?
That’s one way to start socio-economic problems. Capitalism is not the cure for everything– but it’s about finding a balance between giving it a certain degree of freedom and restriction. If you don’t propose barriers in capitalism, it may lead to exploitation of its workers, laborers, and stakeholders because of its primal desire to acquire profit.
It’s both the problem and solution. If you’re against a certain company, you can always produce your own company. You introduce competition which may revise the way the company thinks about how they can acquire profit, how they can look at its consumers and laborers.
We cannot abolish capitalism, but we must constantly participate in capitalism as a consumer, laborer, and a reasoned critic.
Is Marxism a solution for capitalism?
Marxism can be a very good critical point against some of the follies of capitalism. However, as a replacement for the political/economic system of capitalism, marxism doesn’t have much to offer. A hybrid of both, maybe. But marxism alone, history shows not. Not a positive outlook.
It’s not a solution but a way to solve capitalism. At the end of the day, the desire for profit is still there, regardless of whether we call it capitalism or greed, marxism is a way to realign or rethink that kind of desire in economics and sociopolitical systems.
