In the first stage, production grew due to increasing division of labour. However, this was not enough to meet the demands of ever-expanding markets. This resulted in the improvement of technical knowledge and henceforth mechanization became a hallmark of capitalism. Marx believed capitalist society to be divided into 2 main classes- the bourgeois or the capitalist class which owns the means of production, & the proletariat or the working class which sells its labour in the market. The capitalist operates on the profit motive & does not pay workers, drawn from the industrial reserve army, wages equivalent to the value created by them. The surplus value becomes the source of this profit. Further division of labour increases the alienation of workers in that they do not feel a sense of pride and ownership over the fruits of their labour. Marx uses the term capitalist anarchy' to describe the inherent instability of the system due to constant revolutionizing of the instruments of production and its subjection to market forces. The concentration of property and wealth in the hands of a few, also leads to greater political centralization with laws being formulated in favour of the bourgeois. Marx applauded the move towards industrialization and urbanization for freeing men from the burden of traditional ties and sentiment and simplifying class antagonisms. He believed that capitalism harboured its own seeds of destruction. The concentration of labour in the workplace, combined with their increasing pauperization, would end their isolation and create consciousness of their exploitation. Their numbers would rise further due to the descent of the petty bourgeoisie into poverty. This will lead to greater polarization of the classes and eventually the working class will transform from a class in itself' to a class for itself'. According to Marx, all previous historical movements were led by
In the first stage, production grew due to increasing division of labour. However, this was not enough to meet the demands of ever-expanding markets. This resulted in the improvement of technical knowledge and henceforth mechanization became a hallmark of capitalism. Marx believed capitalist society to be divided into 2 main classes- the bourgeois or the capitalist class which owns the means of production, & the proletariat or the working class which sells its labour in the market. The capitalist operates on the profit motive & does not pay workers, drawn from the industrial reserve army, wages equivalent to the value created by them. The surplus value becomes the source of this profit. Further division of labour increases the alienation of workers in that they do not feel a sense of pride and ownership over the fruits of their labour. Marx uses the term capitalist anarchy' to describe the inherent instability of the system due to constant revolutionizing of the instruments of production and its subjection to market forces. The concentration of property and wealth in the hands of a few, also leads to greater political centralization with laws being formulated in favour of the bourgeois. Marx applauded the move towards industrialization and urbanization for freeing men from the burden of traditional ties and sentiment and simplifying class antagonisms. He believed that capitalism harboured its own seeds of destruction. The concentration of labour in the workplace, combined with their increasing pauperization, would end their isolation and create consciousness of their exploitation. Their numbers would rise further due to the descent of the petty bourgeoisie into poverty. This will lead to greater polarization of the classes and eventually the working class will transform from a class in itself' to a class for itself'. According to Marx, all previous historical movements were led by