AN EVALUATION OF KARL MARX’S IDEA OF CAPITALISM

AN EVALUATION OF KARL MARX’S IDEA OF CAPITALISM

ABSTRACT

The history of man shows that people came together at a point in time to form society. The reason for this is for human beings to have a peaceful co-existence, society therefore is a human creation.

How can a society be adjudged as just? These are question yearning for answers and a great concern for political philosophers. The idea of capitalism has it’s origin in the west and it is highly practiced in the Euro-American world.

Capitalism as a principle in a society spread like wild fire that today it is practiced all around the world. On the face value capitalism appears to be nonconsequential as it seems to bring about rapid growth and development in society. But Karl Marx, who is regarded as the father of socialism vehemently, rejects capitalism in all its ramification. For him, capitalism can only be described as exploitative. It is in this light that this study shall evaluate Marx’s idea of capitalism with a view to addressing the above question.

TABLE OF CONTENTS                                                         

Title Page

Table of Contents

Abstract

CHAPTER ONE: INTRODUCTION

1.1        Background of Study

1.2        Statement of the Problem

1.3        Scope of the Study

1.4        Purpose of the Study

1.5        Significance of the Study

1.6        Methodology

1.7        Literature Review

Endnotes

CHAPTER TWO:           KARL MARX’S BIOGRAPHY AND CONCEPTUAL CLARIFICATION OF CAPITALISM

2.1.1 Life and Works of Karl Marx

2.1.2 Influence on Karl Marx Political Thought

2.2.1 An Over-View of Capitalism

2.2.2  Fundamental Features of Capitalism

Endnotes

CHAPTER THREE:       KARL MARX CONCEPTION OF CAPITALISM

3.1    Historical Materialism of Karl Marx

3.2    Dialectical Materialism of Karl Marx

3.3    Analysis of Capitalism in Marx’s Political Thought

3.4    Fundamental Bases of Marx’s Critique of Capitalism

3.4.1 Exploitation

3.4.2 Expropriation

3.4.3 Alienation

3.5    Revolution and the Ideal Marxian State

3.6    Substructures and Superstructure

Endnotes

CHAPTER FOUR: CRITICAL EVALUATION

4.1    Critical Evaluation of Marx’s Idea of Capitalism

4.2    Conclusion

Endnotes

Bibliography

CHAPTER ONE

INTRODUCTION

1.0       BACKGROUND OF STUDY

Capitalism is an advancement of feudalism. Some basic contradiction or flaws in this system of capitalism, is one that generate and depends on social inequality. What makes capitalism unique is not it’s industrial technology but the very way it organizes interpersonal relations in the work organization.

It is note worthy that the system of capitalism has to do basically with exploitation and alienation and in this sense, Marx held that when the worker’s income, wealth, prestige and power are not equal to those of the owner’s of the means of production then the relationship between the workers and owners of means of production becomes one of exploitation.

AN EVALUATION OF KARL MARX’S IDEA OF CAPITALISM