What is meant by capitalism in Marxist terms?
Capitalism: A socio-economic system based especially on private ownership of the means of production and the exploitation of the labor force. See especially the Marx module on stages of socioeconomic development and the module on capital.
What is meant by Das Kapital?
[ German dahs -kah-pi-tahl ] SHOW IPA. / German dɑs ˌkɑ pɪˈtɑl / PHONETIC RESPELLING. noun. a work (1867) by Karl Marx, dealing with economic, social, and political relations within society and containing the tenets on which modern communism is based.
Is Karl Marx capital worth reading?
In all the 150 years since its publication, there is no single book that answers all these questions so well, and in such an integrated way, as Capital. It is a great read. Although the first chapters might suggest otherwise, Capital is actually a great read.
What are the major features of capitalism according to Marx?
To Marx, the major characteristic of capitalism is the separation between owners of the means of production (capitalists or bourgeoisie) and non – owners of the means of production (workers, labourers or proletariat). These two classes are in direct competition with one another.
What is Marx’s basic paradox of capitalism?
In traditional Marxism, the contradiction between the production and circulation of capital is “internal” to capitalism because capitalist production is not only commodity production but also production of surplus value (i.e., exploitation of labor).
What are the main points of Das Kapital?
Ultimately, according to Das Kapital, the “capitalist class becomes unfit to rule, because it is incompetent to assure an existence to its slave within his slavery.” Consequently, the capitalist system collapses, and the working class inherits economic and political power.
What is a main characteristic of capitalism?
Capitalism has many unique features, some of which include a two-class system, private ownership, a profit motive, minimal government intervention, and competition.
Is Marxism and capitalism the same thing?
Meaning and definition Capitalism is an economic system whereby private individuals own and control means of production. On the other hand, Marxism is an economic, political, and social concept that critically checks the impact of capitalism on labor, productivity, and economic development.