Marxistian Analysis Essay

Marxian Analysis and the Realities of the Modern Economy Far from becoming a historical relic, the role of Marxian analysis in today’s economy is both predominant and relevant in modern economic thought. Although the twenty-first century does, at first glance, appear to be a different reality from Marx’s nineteenth century entirely, the core principles of Marx’s work remain relevant and useful, although some of the interpretations made by Marx do need to be modernised somewhat. The modern economy still contains oppression by a ruling class over a subsistence group, with the labour surplus thereof creating profits for the bourgeoisie. These profits are still held by significant parties and institutions, as in Marx’s time, rather than becoming …show more content…
What Marx knew as imperialism has found a new identity as the international finance capital market , who hoard their profits at the expense of the proletariat who is responsible for their base wealth. As capitalist society grows, it takes advantage of cheap labour available in other parts of the world and uses the resulting surplus to finance its own gains at the expense of the working classes, reinvesting only for self-profit rather than for anything resembling social improvement of the working class.
Even when the most capitalistic structures crash, this does not result in any net gain for the proletariat but rather an increased loss, such as the government bail out of the American banking sector, which has left the capitalists in much the same state as they began but has prevented the allocation of resources through education or health spending to the proletariat classes during that time . Marx felt that, given enough crises, that capitalism would collapse and give way to communism , yet the government intervention through many of the past economic crises has prevented this from occurring thus