The Theory Of Marxism Versus Capitalism - 1730 Words

The Theory of Marxism versus Capitalism During the 19th century two different economic theories derived from two philosophers-economists with varying views on which would withstand the most effective and productive economy. These theories are Marxism, supported by Karl Marx with Fredrick Engels and Classical Political Economy, led by Adam Smith with David Ricardo. Although they had similar desires for the working class people to profit in the economy, their theories on how this should be achieved were opposites sides of the spectrum. However, both theories obviously had lots of influence and value as they still represent major economic powers to this day: Capitalism and Communism and parts of Socialism. Marxism, is a theory first†¦show more content†¦Therefore they controlled the economy, the government, and all other entities of society. The rich factory owners were the only ones to profit from production while the poor workers suffered under long working hours and low wages, often not enough to sustain their families. Marx ideal view of production was that in a civilized society production’s goal would be to meet the needs of all people in the society not just the wealthy. He explained in this statement, [1]â€Å"In production, men not only act on nature but also on one another. They produce only by co-operating in a certain way and mutually exchanging their activities.† Marx believed that people were practical and would produce and distribute among themselves what was necessary for consumption. He also thought was that production equated consumption and therefore consumption was to be tied to production. He felt a change in ideology was needed and it shou ld start with the need of the proletariats to revolt against the capitalist forces and change the current political and economic hierarchy. Marx felt the proletariats were oppressed people who had no choice but to rebuke the way in which their society was set up to have an opportunity at living a more comfortable and fair standard of living, even if a revolution was needed. This new ideology was, communism which Marx thought was fair because it eliminates classism and lands everyone one on an even playing field. It also eliminates competition allowingShow MoreRelatedKarl Marx And The Great Philosopher Essay988 Words   |  4 Pagesthe failures he was driven to London in 1849. For most of his life, Marx was not working alone. Marx worked with Friedrich Engels, who had created a similar theory to that of Marx. Engel was a great communicator while Marx was the great philosopher. The two worked well together to formulate the term, â€Å"Marxism†. Engel contributed much to Marxism and Karl Marx’s other successes. Marx continuously studied and wrote, but he was unable to finish the last two volumes of his work. Therefore, Engel put togetherRead MoreGeorge Hegel s Theory Of Ideas878 Words   |  4 PagesGeorge Hegel introduced to the world to the theory of ideas, known as the Hegelian dialectic, and it is quite astonishing as it contemplates an d assesses contradicting ideas and ultimately generates a new idea. Hegel believes that all human ideas (thesis) are often in heated confrontations with their similar counterparts (antithesis), in which both may be equally feasible for a society. Hegel believes that these issues must be resolved through the synthesis of a new idea. The Hegelian dialecticRead More Marxist Theory and Sport Essay1538 Words   |  7 Pagesunderstanding of Marxism and its applications to sport. I will lay the groundwork for the theory then proceed with how his theory is applied to accessibility issues in sport, distribution of power in sport and commercialization of sport. 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