Economic Update with Richard D. Wolff Economic Update: The Contributions of Karl Marx
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May 26, 2018 Celebrate Karl Marx's 200th birthday by diving into his critiques of capitalism. Discover his analysis of labor and surplus, revealing persistent inequalities and modern 'wage slavery.' Explore the contradictions of capitalism where exploitation leads to economic instability and reduced buying power. Unpack Marx's vision of democracy in the workplace, advocating for equality and worker cooperatives. Reflect on his legacy and question the permanence of capitalism, urging progressive change through community engagement.
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Marx as Capitalism Critic
- Karl Marx was primarily a critic of capitalism, aiming to reveal its inadequacies.
- He believed humanity could create a better system than capitalism for a fairer society.
Capitalism's Broken Promise
- Capitalism replaced old systems like slavery and feudalism but failed to deliver liberty, equality, fraternity, and democracy.
- Marx saw capitalism as betraying these ideals by perpetuating social inequality.
Capitalism Mirrors Past Oppression
- Capitalism replicates past oppressive systems by dividing society into employers and employees.
- Employers dominate and control society much like masters and lords had before.