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Karl Marx
Karl Marx saw many problems with the capitalist system. He tried to
identify and remedy the problems of capitalism through his creation of
Marxism. He felt that capitalism benefited the owners of the means of
production, not the worker.
Karl Marx describes capitalists as people with a “vampire thirst for the
living blood of labour.” As he describes capitalism his main objection to the
economic system is what was know as the “labor theory of value.” The
theory says that the value of any commodity is a function of the amount of
labor that it took to produce it. In capitalism, labor is a commodity the
value of the labor is determined by it’s cost. The cost of a worker’s labor is
the cost of sustaining him. Marx says only in an ideal world will the product
be sold for it’s just price. Capitalists attempt to find a way to receive a profit
from this product. They do so by forcing the laborer to work more hours than
are needed for his own survival. Lawhead says that Marx
Approximate Word count = 705
Approximate Pages = 3 (250 words per page double spaced)
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