Was Marxist economist Prabhat Patnaik correct when he stated: “Even reformed capitalism cannot give equal opportunity”? The sole purpose for the emergence of capitalism was to promote equal opportunity in achieving success through the maximisation of profit. Capitalism embodied an Enlightenment agenda of freedom through trade and equality under the law. Although in a way this concept influenced the notion of the “American Dream” it nonetheless failed as it based its success on extrinsic preconditions such as inheritance or wealth rather than intrinsic strength as its primary model. As the emergence of inequalities between power and wealth rise, so does the concern that inequality is an essential ingredient for the functioning of Capitalism.
…show more content…
Marx asserted that the concentration of capital would inevitably be controlled by the one percent through the displacement of small businesses by big monopolies. The fundamental guideline of private enterprise is that individuals are propelled to produce by the motivating force of profit and higher incomes. This is achievable in a perfect world where avarice and self-intrigue are inexistent. However, this notion is often disregarded depending on the businesses capability of reward, disparity becomes a basic element of private enterprise. Capitalism is about expanding gainfulness and rivalry against partners with comparable business or exchange. Industrialists will always try to have higher increases in order to ensure accomplishment through the level of their productivity. Thus, it would be illogical to assume that capitalists would raise wages for their labourers. Doing as such would give the ordinary citizens the monetary flexibility that could make an open door for a rivalry. This very notion is what Marx considered to be an abuse of monopoly power. If firms acquire monopoly power then they will automatically gain control of wages and worker productivity. As a result of this exploitation between the power of the capitalist and the dependency of the worker, monopoly power emerges as a condition for …show more content…
“While rich and poor have grown further apart, both predominant ideology and social theory have set out to dismiss this; or to argue that it does not matter anyway. If we are to believe the commentators, politicians and academic theorists who have set this tone in the current debate, class inequality has lost social, moral and political force” (Lee and Turner 141). Today, the most refined mental strategies (TV, boards, radio and newspapers) are explored and utilised to control and direct the enthusiastic inspirations of people in general to profit particular vested parties. Marketing controls our sentiments in order to convince us to vote in favour of inadequate candidates and to bolster terrible political activities. All in all, these techniques are exceptionally fruitful at the mental control of public
Marx asserted that the concentration of capital would inevitably be controlled by the one percent through the displacement of small businesses by big monopolies. The fundamental guideline of private enterprise is that individuals are propelled to produce by the motivating force of profit and higher incomes. This is achievable in a perfect world where avarice and self-intrigue are inexistent. However, this notion is often disregarded depending on the businesses capability of reward, disparity becomes a basic element of private enterprise. Capitalism is about expanding gainfulness and rivalry against partners with comparable business or exchange. Industrialists will always try to have higher increases in order to ensure accomplishment through the level of their productivity. Thus, it would be illogical to assume that capitalists would raise wages for their labourers. Doing as such would give the ordinary citizens the monetary flexibility that could make an open door for a rivalry. This very notion is what Marx considered to be an abuse of monopoly power. If firms acquire monopoly power then they will automatically gain control of wages and worker productivity. As a result of this exploitation between the power of the capitalist and the dependency of the worker, monopoly power emerges as a condition for …show more content…
“While rich and poor have grown further apart, both predominant ideology and social theory have set out to dismiss this; or to argue that it does not matter anyway. If we are to believe the commentators, politicians and academic theorists who have set this tone in the current debate, class inequality has lost social, moral and political force” (Lee and Turner 141). Today, the most refined mental strategies (TV, boards, radio and newspapers) are explored and utilised to control and direct the enthusiastic inspirations of people in general to profit particular vested parties. Marketing controls our sentiments in order to convince us to vote in favour of inadequate candidates and to bolster terrible political activities. All in all, these techniques are exceptionally fruitful at the mental control of public