Application of Marxism in Modern World - Essay Example

According to Carlos F Angelis a sociologist at the University of Buenos Aires, inflation is their major concern. According to unofficial but reliable information, the Argentines are currently faced with a nearly 30% increase in prices from 2013. It is, however, estimated that things will move from worse to worst with a further projection to 45% in this year and a further 56% in Venezuela occur. Interestingly it has also been noted that women have been taking their men to court as a way of seeking alimony payments due to the tough economic times. Moreover, the informal sector has not been left behind by this wind as it is reported that even the extortion racket has doubled the fee of its so-called protection over the past year. The president of the central bank in this country also confirms the case of rising inflation as he reported a 25% increase in monetary supply in 2013 alone which aimed at cushioning the government’s budget deficit.

Marx’s Theories

From the above sentiments, it is possible to connect some of Marx’s theories. For example, human society is progressing through class struggle as a conflict between ownership class controls the production is exist those poor citizens who provide labor for production. It is no wonder Butros Sandra a 50 years old businesswoman running a market stall says, “they are toasting Champagne while the people become divided”. According to Marx, the bourgeoisie who are wealthy control the wealth for their benefit and this would lead to tensions something that is already eminent. This idea is further supported by Tucker-Marx-Engel reader (Karl Marx Friedrich Engels Robert C. Tucker pg 78). This is also the central argument proposed in this article and theorists Marx, Engel, and Tucker.

From the case study, we are made aware of Venezuela which is already suffering from social unrest. According to Marx, these are the tensions that accrue when a few wealthy personalities control the economy. To support this claim further, the case study mentions Martinez Lucia a 60-year-old nephrologist who identifies the increased prices as an undercover coup against the government from the few wealthy officials pointing out business executives of the Royal Dutch Shell as culprits. This is a utopian socialist theory which only aims at benefiting the few in the society. However, Marx criticizes this theory and argues that only large-scale changes in the economic system can bring about real change something necessary for the Argentines.

Conclusion

In conclusion, Marx is regarded as one of the most important economists in the world. Before he died he predicted that the communist revolution would occur and it would result from the class struggle from the working conditions that most people face. It is indeed very true as this is what has been the case with Argentina recently. Marx has been inadequate in explaining the reason for the skyrocketing inflation and the shock waves that affect those countries.