Question

According to Karl Marx, what is one good thing about capitalism? At the same time, in his view, why does capitalism fail as an economic system? Do you agree with Marx's assessment? Why or why not?

Answer 1

Capitalism can be defined as an enterprise owned by an individual in sole aim for profit maiking in a private ownership.Their idea of competitiveness was high and they would make their labours work extra hours at a lower cost.so the wages would be just enough for his survival,which led him to be estranged from other workers and himself.He does not obtain any self satisfaction from the job he is doing rather considers it as a monotous proceedure.There is interaction between relation of production and means of production.The capitaists were called bourgoisie.Capitalists fails in an economic system because it results in overproduction without self worth and no personal satisfaction for the labourer.This could result in communalism.