Karl Marx Views On Capitalism

Do Marx's views on capitalism provide any insights into economic globalisation today?

Karl Marx, one of socialism’s revolutionaries, presented his views on capitalism and globalisation (imperialism) throughout his analytic works, such as the Communist Manifesto and Das Kapital. These are views, according to several Marxian scholars, such as Miguel D. Ramirez, vindicate the rapid integration of goods and financial markets (globalisation) the world economy has experienced since the fall of the Soviet Union. Marx provides that the main fundamental economic reason for the geographical expansion of capitalism ( from the west ) into a global system of society and economics, can been attributed to his “law of the tendency of the rate of profit …show more content…
“Capital is dead labour which, vampire-like, lives only by sucking living labour, and lives the more, the more labour it sucks”.Global capitalism effects are to ensure that the powerful and wealthy continue to prosper, at the expense of the powerless and the poor. He laments the inequality between the rich and the poor, how the economic class structure caused disparity of wealth, and limited access to goods, technology and education. Marxist basic critique of capitalism is that “capitalism would fail for economic reasons as the proletariat revolted against its impoverishment.” From this demolition, the socialist construct will prevail as “capitalism sows the seeds of its own …show more content…
The outlined rules support his theory of an unsupportable economic and political system under the regime of the capitalist system. Communist Russian revolutionary, Vladimir Lenin, later introduced a fourth law. The economic laws of Marxism are applicable and even prophetic to a modern day challenger of liberal theory and the unending push for