How Did The Collapse Of Capitalism

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I agree with Karl Marx statement about capitalism. Marx felt that capitalism through industrialization had increased the productive capability or power of the world's economy far beyond what individuals had ever witnessed before. Despite this fact, Marx also felt that capitalism created two different classes of people that were competing with each other on social hierarchy. First, was the bourgeoisie who owned and controlled the means of creating a production, and they also hired wage laborers to distribute their production. Second, was the proletariat, who were mere common workers who owned nothing of a real production or any real power to hired many workers. They had the right through to sell their own labor. Capitalism's foundation is that it ensures these classes would struggle against one another. To the point where the class of workers would become massive, and oppressed each other enough that it would overthrow the bourgeoisie. Moreover, capitalism social classes would seize the means of production from bourgeoisie and end the economic system eventually. The system of socialism would be ushered in and would gradually develop into pure communism.
Capitalism in my opinion, has been the subject of criticism or backlash from many perspectives during its history. Criticisms mostly ranges from …show more content…

Marx defined capitalism as a social economic relation between people, rather than between people or things in the grand scheme of it. Furthermore, individuals or the general population wanted to abolish capitalism. They believe that private ownership of the means of production enriches capitalists’ owners of capitalism, sadly, at the expense of workers who needed to support their families. Lastly, individuals argue that the owners of the means of production exploit the workforce to the point of overworking

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