The Capitalist System In Business Essay

1457 words - 6 pages

Marx and Engels have a great deal of writing in the Wage-labour and Capital dedicated to the struggle between capital and labour that drives the inevitable internationalization of the capitalist system. Marx had foreseen the errors and flaws of capitalism itself. In his writing, he highlights these flaws of capitalism’s self-contradictory characteristics that, “capitalism contains the seeds of its own destruction“
During the time of their writing in the Manifesto of the Communist Party, capitalism was still what it was they had conceptualized it to be at the time. They has seen how the European discovery of America, and even more so with the industrial revolution of Britain and other capitalist countries, has portrayed the characteristic of inevitable expansion of the capitalist system. They had recognized these patterns that were driven by the competitive nature capitalism, and seen the eventual internationalization of capitalism.
The incident at Rana Plaza was, in part, the result of the deteriorated political and economic state of Bangladesh itself. However, Marx and Engels positions on global capitalism and the struggle between capital and labour can be used analyse the characteristics of the incident and gain merit from classic theory of contemporary issues.
In North America, jobs have become scarce and unemployment skyrocketing, as the domestic factories and producers of goods are being outsourced to undeveloped and developing nations. The capitalist relation between capital and labour is the cause of this movement that is seen of local jobs being given to workers who will work for lower wages.
Marx and Engels piece of the Wage-Labour and Capital explains the capitalist system as they have seen it back in 1849. However, their observations of capitalism are still relevant in global capitalist times. The main drive of capitalism will always be that of competition, as that is what drives globalism today.
The relationship between capital and labour is that relating to the amount of capital that can be accumulated from the labours of the proletariat. The commodity of labour-power is the only one that can be used to produce a profit. Also, capitalist must stay competitive if they would like to continually exist on the market. There is always the struggle between how much the capitalist can exploit the worker to gain a greater amount of profit. However, there is a limit to how much the worker can be exploited, before they will refuse the conditions, which are relative to the environment which they belong. The “wage” that the capitalist pays the worker is reflective of the cost it would take them to reproduce their labour power. The labour that the worker has invested into the goods can then be exchanged for a profit. However, when the cost of labour compromises the competiveness of the capitalist, that is the cost of labour cannot be used to create substantial profit when the goods are sold, then the capitalist must resort to other methods of...

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