Socialism - Essay Example

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Socialism

Marx argues that unlike capitalism, which promotes competition the quest to make as much profit as possible as well as undercut ones rivals and if need be drive them out of business, communism promotes corporation (Marx 276). This is a reasonable point; in fact, one of the main challenges of capitalism is the high competition which at times results in the ruining of business by their rivals. Additionally, since this is spurred by the need to maximize profits these capitalism ultimately ends up exploiting the workers who are sacrificed for the sake of bigger profits. His critique of private property is also very well thought out and if it were adapted, it would solve much of the conflict that occurs in capitalism dominated world as many people struggle for the few available resources. He argues that limiting private ownership would render irrelevant the need for individuals to exploit others in the quest for wealth since all would be owned collectively, he suggests that if all property was taken away from the hands of a chosen few, it would eliminate the desire and even reason for exploitation. Ideally this would be true, however the premises under which such a situation can be applied cannot exist under normal circumstances. ...Show more

Summary

Name: Course Instructor Date Concisely, Karl Marx’s view on capitalism and socialism was that the former was an exploitative system designed to divide society along class lines between the rich and poor and it will only be successful through exploitation of the workers (Marx 171)…
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