Capitalism: The Communist Manifesto By Karl Marx

I believe Joseph Schumpeter’s creative destruction gives us the best idea about how capitalism, the state and the future will evolve. However, I will go in chronological order explaining all their ideologies to orient the reader about their ideas and simultaneously explain my opinion as we better understand each intellectual; then I will provide some final thoughts.

Karl Marx wrote “Das Kaptial” nearly 30 years after he wrote the Communist Manifesto. He strongly advocated the labour theory of value and that capitalism exploits the labour in many of which ignoring the labour theory of value is one. Marx believed that capitalism wouldn’t work because people wouldn’t accept their poor working conditions, wages would fall so low that wouldn’t

I think it is not hard to learn about what institutions are the monopolist businesses and which are the great powers of our day. However, I want to agree with him that this is the highest point of capitalism, but I think it could get worse, or better depending on your disposition. By this I mean the world might get richer but a majority of the income would continue to go to the rich. Also, it has never been easy to account for technological advancements especially in the last 50-60 years and so I wouldn’t like to

In this book, he asserted that people do not have natural liberties in their economic activities and that there isn’t always and intersection between social and private interests, and that there is an ideal amount of intervention by the state in economic activity. He thinks state socialism (Bentham’s kind) misses the point of what was happening of that time. He had a very utopian view of the future and about how we should be spending our leisure time. He believed there was a herd mentality involved in consumption, in other words, if the people around someone was consuming that person would feel compelled to consume, which causes a boom. However, when there is a depression people tend to hoard goods. Furthermore, state intervention was justified only when no one else would make them. This would be justified in when addressing the problem of inequalities, the key to which is controlling the currency and credit by the central bank. Essentially, he believed managed capitalism could be efficient for attaining economic ends, but that it had objectionable aspects to it and that a good alternative is needed. I agree to a large extent with him too as I think that a good alternative is needed but that it has the advantage of efficiency but that we must look at what we are giving up to achieve that level of