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Paper Topic:

Communist Manifesto

Client 's Name

1 October 2007

Professor 's Name


Marx Capitalism

To discover what globalization of capital means , an overview of the man whose ideas flood the gateway of capitalism must be undertaken , and examined . Though Marx himself wasn 't a capitalist , his writings on capitalism are still widely held in view today . Capitalism is mainly and chiefly about an inherent impetus for technology and social innovation , as Hudis writes in his 2001 article , Marx in the Mirror of Gobalization

As Marx saw it , capitalism is not

only about the production of material goods and services , but also about the production of value . Labor , in Marx 's view , is the source of value . And the magnitude of value , he argues , is determined by the amount of socially necessary labor time it takes to produce a given commodity . Marx held that there is a continual contradiction between these two purposes : producing for material wealth and producing for value . As productivity rises , more goods are produced in the same unit of time , so the value of each commodity falls . The increase in material wealth corresponds with a decline in the magnitude of value-that is , production costs fall and prices tend to fall as a result . Hudis , 2001

In different countries the labor market presents itself so frugally which in turn harbors other countries to suffer from the low cost of goods being imported

In the struggle of dominance and power , countries are prone to replace value with numbers , which causes a nationwide if not worldwide effect In America this is overtly true , as the market system prizes surplus product made cheaply rather than valued goods made with worth . Marx 's statement about wealth collides with the ideas of value . In the contradiction , in economy terms , wealth overshadows value to an extraordinary degree and what results sometimes is a struggle between trading countries in either the import of cheap goods or the export of high quality goods . The decline in value in goods , in capitalism , is a risk . The funds needed to support the production are in jeopardy when trying to maintain a high production output . To counteract this problem , a capitalist will try to advance productivity , and since the greater the amount of export produced , the better the opportunity to receive a high dividend . As Hudis writes

The best way to increase productivity is to invest in labor-saving devices . The resulting growth in productivity , however , reproduces the initial problem , since the increase in material wealth leads to a further decrease in the relative value of each commodity . Capitalism is thus based on a kind of treadmill effect , in which the system is constantly driven toward technological innovation regardless of its human or environmental cost . The restlessness and drive for innovation that characterize contemporary high-tech capitalism was long ago anticipated by Marx In Marx 's view , the unremitting improvement and productive increase ultimately proceeds with blatant discount of national bs . The ingenious of capital was that it created a world market . As...

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