Need help with my writing homework on What, for Karl Marx, Is Wrong with Capitalism. Write a 1750 word paper answering; First, capitalism will be defined and the reasons for the inherent nature of the M-C-M’ cycle explained. Secondly, capitalism will be compared to feudalism in order to understand the historical role of capitalism. Thirdly, the classes produced by the capitalist mode alongside their flaws will be looked into. Lastly, communism as the only logical solution to capitalism flaws will be evaluated.
Although Marx is not making a moral critique of capitalism, it is worth discussing how such a critique would look like and why Marx avoids using it. Moral standards are established by society to judge the rightness or wrongness of actions of all its members hence morality is relative. What is wrong in one community may be right for another and so it follows that capitalism may be bad for some but good for others depending on their values. Marx in the Communist Manifesto argues that the “history of hitherto existing societies is the history of class struggles” (246). The capitalist mode of production produces two antagonistic classes: the bourgeoisie who own the means of production and the proletariat who sell their labor to the bourgeoisie as a means of subsistence. The bourgeoisie class exploits the proletariat by giving them a wage that is not commensurate with their work. From a moral point of view, the bourgeoisie is unjust to the proletariat as he does this consciously in pursuit of profit. Furthermore, in the long-run capitalism leads to the degradation of workers as they work under unfulfilled conditions (Marx & McLellan, 2000 p. 85). Capitalism also forces peasants off the land to create a poor population who would be willing to sell their labor at low wages. This is unjust although Marx views it as a necessary condition for capitalism to thrive (Marx, Capital, p. 703). It also disintegrates the society as individuals strive to survive on their own. However, Marx prefers to blame the system for the flaws as each class just does what it has to do.