Term Paper: Karl Marx and Fredierich Engels’ on Capitalism

Sample Term Paper

Words 1,500

This is a term paper on capitalism. Karl Marx and Fredierich Engels’ “Manifesto of the Communist Party” expressed the candid views that capitalism is just an evolutionary phase in our overall economic development.

Karl Marx and Fredierich Engels’ “Manifesto of the Communist Party” expressed the candid views that capitalism is just an evolutionary phase in our overall economic development, and that it would ultimately self-destruct and be replaced by a world where private property no longer subsist. As strong advocates of a labor theory of value, Marx and Engels believed that because production rests in the hands of laborers, this makes them the most precious members of society. They additionally contended that the market system permit capitalists to exploit workers by denying them a fair share of what they produce. Marx and Engels predicted that capitalism would result in gradual and increasing devastation for workers, and that as competition for profit led capitalists to adopt labor-saving machinery, the workers those machines had replaced would rise up in revolt and regain control.

Marx and Engels described an international or world market being fueled by the extensive invasion of capitalism that resulted in the mass alteration of traditional methods of production. Although this involves higher expenditures, this was, according to Marx and Engels, a necessary step towards a socialist society. However, in order for a socialist uprising to take place, a bourgeois revolution must have happen first. In other words, the material conditions had to exist before the transformation could take root.

According to Marx and Engels, the capitalist class not only pedals the means of production but also attempts to control the beliefs of the people. They declare that capitalism promotes an ideology that is actually consisting of distorted truths and warped realities designed to serve the interests of the corporate elite only. Since the basic principle of Marx and Engels’ thought is that economic conditions conclude all social arrangements, human relationships, thought, and values, then it is only natural that any economic or political model used would sieve into other aspects of life.

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