Defining Capitalism and Socialism in Modern Marxist Ideology

In modern Marxist ideology, there is a tendency to blame capitalism for the violations of private property such as taxation, inflation, and regulation, labeling it as late stage capitalism. However, this perspective lacks a comprehensive understanding of capitalism as the institutionalized respect for private property. The ideology also views Marxism more as a religious belief than an economic theory, believing that failures in socialism are not due to flaws in the system but rather to people not fully embracing socialist principles.

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