Marxist Theory for Wealth Inequality

Question 1

1

Answer 1

Inequality is the product of class exploitation. They claim capitalism involves the exploitation of the working class by the capitalists/ruling class. 
The workers create the wealth through their labour, but they are not paid the full value of their work - the capitalists extract "surplus labour value" (profit). Thus, Marx said that the capitalists would tend to get richer, and the workers would get poorer

Question 2

2

Answer 2

Therefore, this explains the increasing wealth gap. Even though the country as a whole may be wealthier, the relative difference between the rich and poor will continue to grow.

This is shown by the findings of the Rowntree Report; just 10% of the population own 50% of the country’s wealth. An end to capitalism, in a revolution, is required in order to end inequality.

The persistence of massive inequalities in the distribution of wealth is one of the most important features of the capitalist class structure. The key to this persistence is inheritance, as the rich are able to transfer their wealth through marriage and in wills.

Question 3

A03

Answer 3

Critics of Marxism point out that Marx failed to recognise that inequality is also based on gender or ethnic group exploitation and not just social class.