Response To Marx

[Name of the Writer]

[Name of Instructor]

[Subject]

[Date]

Response to Marx

The findings and concept of Marx have never been accepted and recognized earlier than they are acknowledged. Although, whenever there is a buzz about the relevance of Marx, the ideas and philosophies of Marx are considered. The notions and philosophies that have survived the time test and turned out to be dominant. Some critics were reluctant to accept the ideas but the economic turndown of the year 2008 clearly showed who was wrong and who was right. For many years, the economists never drained of reiterating that the predictions Marx related to the economic recession were completely outmoded. They were thought to be philosophies of the 19th century, and the individual who fortified them were discharged as desperate hypocrites. However, in the period of 20 years, the history makes a turn of 180 degrees. This time all the decriers and critic of the ideas and theories of Marx, talk in a completely different tune. The economy ideas and philosophies of Marx are taken seriously indeed. Marx presented the theory of value (Heller, n.p). This theory explained that the worth of the formed economic good might be taken objectively by the typical time of labor hours are required to produce the goods. The economic turndown made critics think and accept what is flattering increasingly patent; the capitalism comprises the roots and causes of destruction; which states that it is a chaotic and anarchic system which is categorized by the periodic catastrophes that many individuals lost their jobs which cause political and social instability. Many economists of the present age are looking into the pages of Marx theory and finding the answers of what went wrong.

The idea of capitalism presented by Marx, in theory, claimed capitalism is necessary to step in the development of man, which might then face a dogmatic rebellion before accepting the egalitarian society. The idea of capitalism was complex. To understand the idea of capitalism, capitalism can be explained as the economic and social relationship amongst individuals rather than amongst things and individuals. They believe that private possession of the resources of fabrication improves financiers at the expense of workers(Heller, n.p). This means that the richer get richer and poor get more poorer. In simple words, it can be said that the owners do not work and all the work is done by workers; therefore the worker is being exploited. In the view of Marx, the capitalists and industrialist would ultimately accrue extra capital impoverishing the working community, producing the societal circumstances for an insurrection that would coup the establishments of private enterprise. Private possession over the resources of production and dissemination is observed as an addiction to non-owning periods on the governing class and eventually a cause of constraint of human liberty.

Works Cited

Heller, Agnes. The theory of need in Marx. Verso Books, 2018.