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Pages 5 (1255 words)
To envision that Karl Marx, through his doctrine, would espouse Capitalism seems almost impossible at first glance. But, understanding his philosophy, it becomes apparent that these seemingly diverse views can co-exist in harmony. This paper is what forms my attempt to look into the possibility of Marx's economic theory forming a ground for advancement and modernization of capitalism rather than its annihilation as Marx himself had predicted and wanted…
I discuss these points under three areas that form the premise of my argument. The first deals with Marx's Labor Theory of Value in which Marx talks about the distribution of wealth as being unfairly in the control of the capitalist, and the profits being usurped by the provider of capital, leaving the laborer with meager wages that just provide them for nothing more than bare existence. In the second, I analyze the idea of doing away with private ownership of property and its being under the State's control. In the third, I draw a parallel between labor and capital in the way they work, establishing that capital and capital instruments are a necessity in the means of production, and hence that their investors are legitimately eligible for the profits generated through surplus. Thus I bring forth the ideas that lead me to believe that Marxian theory, in effect contributed to the development of, rather than demolish the capitalist structure it had set out to do away with. ...
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