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Capitalism

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Home/Political Philosophies/Capitalism/Page 2

Mains Answer Writing Latest Questions

Byri Akhila
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Byri AkhilaBegginer
Asked: July 10, 2024In: , , , ,
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what do you mean by capitalism and what do u mean by socialism? Which countries follow socialism and why?

  1. Vartika Shukla
    Vartika Shukla Begginer

    Capitalism and socialism are contrasting economic systems with different approaches to ownership, production, and distribution of goods and services. Capitalism is characterized by private ownership of property and means of production. In this system, individuals and businesses operate in a free marRead more

    Capitalism and socialism are contrasting economic systems with different approaches to ownership, production, and distribution of goods and services.
    Capitalism is characterized by private ownership of property and means of production. In this system, individuals and businesses operate in a free market, driven by supply and demand. Key features include:

    1.Profit motivation
    2.Competition between businesses
    3.Limited government intervention
    4.Individual economic freedom

    Socialism, conversely, advocates for collective or state ownership of resources and means of production. Its main characteristics include:

    1.Public ownership of key industries.
    2.Central economic planning.
    3.Emphasis on equality and wealth redistribution.
    4.Greater government involvement in the economy.

    Proponents of capitalism argue it fosters innovation, efficiency, and economic growth.
    Supporters of socialism believe it promotes fairness and meets everyone’s basic needs. Detractors argue it stifles innovation and individual liberty.
    In practice, most modern economies are mixed systems, incorporating elements of both capitalism and socialism. The balance between these elements varies widely among different countries, reflecting their unique historical, cultural, and political contexts.

    examples of countries with strong capitalist elements United States, Singapore, Hong Kong, Switzerland. Whereas Countries with stronger socialist elements include Cuba,Vietnam, China, North Korea.

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UPASNA KUKRETI
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UPASNA KUKRETIBegginer
Asked: July 15, 2024In:
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Discuss Karl Marx’s critique of capitalism. What are the main points of his analysis, and how do they apply to contemporary capitalist societies?

karl marx
  1. Shreya Saloni
    Shreya Saloni Begginer Graduated from University of Delhi in Ba hons Political Science

    Karl Marx (1818-1883) a German philosopher, economic determinst and a revolutionary born in Rhine province of Prussia, Germany. Marx was a revolutionary and also considered as radical which pressed him to leave Germany and he went to England later. EDUCATION AND FAMOUS WORK OF MARX:- Doctorate fromRead more

    • Karl Marx (1818-1883) a German philosopher, economic determinst and a revolutionary born in Rhine province of Prussia, Germany.
    • Marx was a revolutionary and also considered as radical which pressed him to leave Germany and he went to England later.
    • EDUCATION AND FAMOUS WORK OF MARX:-
    • Doctorate from University of Jena 1841
    • ‘Communist Manifesto’ in collaboration with Friedrich Engles. (1848)
    • Das Kapital
    • Theory of historical materialism

    Main Idea

    Origin of class

    • Humans fulfill their basic needs by their unique ability to produce which is called material production.
    • It lead to origin of classes:-

    1.Dominant (who owns)

    2. Dominated (who do not own)

    What is capitalism? 

    • Capitalism is the process of production with the help of fixed capital (raw material, tools, machines, and factories) and variable capital (human labour) not for the purpose of consumption but for profit.

    Theory of Surplus Value

    • It is the difference between labour and labour power.

    Theory of Alienation 

    • The ability to produce under capitalism becomes a commodity in which labor power is sold to capitalist for wages.
    • Types of Alienation:-
    1.  Product of work
    2. Activity of Production
    3. Distinct Potential
    4. From one another

    Theory of class struggle 

    • “The history of all hitherto existing society is the history of class struggle” -Karl Marx
    • Types of classes in each society:-
    • Capitalist society
    1.  Worker
    2. Owner
    • Feudal Society
    1. Lord
    2. Serf
    • Slave Society
    1. Master
    2. Slave

    It’s relevance 

    • Prediction of globalization
    • Rising Inequality
    • “Poverty in the midst of Plenty”

                                    Conclusion 

    “The proletarians have nothing to loose but their chains. They have a world to win.”- The Communist Manifesto.

     

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Himanshi Mehra
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Himanshi MehraBegginer
Asked: August 29, 2024In: ,
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karl marxquestionssociologytheory of alienation
  1. Umang Singh Yadav
    Umang Singh Yadav Expert

    Marxism's alienation theory posits that capitalism disconnects individuals from their humanity, creative labor and fellow beings resulting in four types of alienation i.e. from labor, product, others and human potential, stifling self realization and freedom. Key aspects of Alienation - In Marx's alRead more

    Marxism’s alienation theory posits that capitalism disconnects individuals from their humanity, creative labor and fellow beings resulting in four types of alienation i.e. from labor, product, others and human potential, stifling self realization and freedom.

    Key aspects of Alienation –

    1. In Marx’s alienation theory, alienation of labor occurs when workers are disconnected from their creative potential becoming commodities exploited for profit, losing control and meaning.
    2. Marx’s alienation from product occurs when workers do not own or control the goods/services they produce, separating them from their creative output and intellectual property.
    3. Marx’s alienation from others arises when capitalist competition and wage labor replace cooperative relationships, isolating individuals and converting social interactions into market transactions and exploitation.
    4. Marx’s alienation from human potential occurs when capitalism stifles individuals creative freedom, autonomy and self realization reducing them to specialized, mechanized labor, hindering personal growth and fulfillment.

     

    Karl Marx’s alienation theory still holds truth today. Modern issues like gig work, social media and automation continue to disconnect people from their creativity, community and true potential, fueling feelings of isolation and disempowerment.

     

     

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gdas
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gdasBegginer
Asked: August 29, 2024In:
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Explain how Karl Marx’s idea of capitalism is relevant. Give instances.

capitalismsociology
  1. Umang Singh Yadav
    Umang Singh Yadav Expert

    Karl Marx viewed capitalism as an exploitative system where capitalists extract surplus value from labor perpetuating inequality and alienation. Key features include private ownership, profit maximization, wage labor, commodity fetishism and cyclical crises leading to class struggle and potential reRead more

    Karl Marx viewed capitalism as an exploitative system where capitalists extract surplus value from labor perpetuating inequality and alienation. Key features include private ownership, profit maximization, wage labor, commodity fetishism and cyclical crises leading to class struggle and potential revolution.

    Relevance – 

    1. Karl Marx’s idea of capitalism highlights exploitation and inequality through wage theft, uneven wealth distribution and labor exploitation, perpetuating class divisions and social injustices evident in modern issues like income disparity.
    2. Marx’s concept of alienation and labor under capitalism persists as workers experience disconnection, lack autonomy and face exploitation evident in modern issues like burnout, gig economy instability and automation induced job displacement.
    3. Marx’s prediction of crisis and instability in capitalism is evident in recurring economic downturns, market volatility and inherent contradictions, such as overproduction, underconsumption and debt crises, fueling inequality and social unrest.
    4. Marx’s concept of commodification and market domination under capitalism transforms everything into marketable goods, prioritizing profit over people evident in privatized healthcare, data exploitation and corporate influence on politics and media.
    5. Marx’s ideas inspire resistance and alternatives to capitalism including labor movements, cooperative ownership, progressive policies, social activism and alternative economic models like socialism fueling global movements for economic democracy and social justice.

     

    Karl Marx’s ideas on capitalism still hold truth today. He highlighted issues like unfair wealth distribution, worker exploitation and economic instability. These problems persist, fueling debates and inspiring alternatives that prioritize people’s well being over profits.

     

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Humerah Farooqui
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Humerah FarooquiBegginer
Asked: July 21, 2024In:
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capitalismindiasocietal values
  1. Vaastavik
    Vaastavik Begginer

    Capitalism has reshaped the traditional societal values in India to a great extent. It has led to profound changes in social, cultural, political as well economic aspects of Indian society in various ways as mentioned below - 1. Materialism and Consumerism Consumption has significantly increased sinRead more

    Capitalism has reshaped the traditional societal values in India to a great extent. It has led to profound changes in social, cultural, political as well economic aspects of Indian society in various ways as mentioned below –
    1. Materialism and Consumerism
    Consumption has significantly increased since the rise of capitalism. The demand for luxury products and the yearning for a higher level of living has doubled.
    2. Relationships and the Structure of Families
    There is increase in nuclear families as a result of urbanization and economic liberalization. Increased career and educational mobility have undermined the conventional family unit.
    3. Employment and Gender Roles
    Women now have more options for employment and education due to the increasing economy’s need for a varied workforce and has led to break in traditional gender roles, more gender equality and independence.
    4. Increase in Career aspirations
    With the rise in popularity of new businesses like IT, banking, and the creative industries, there is a wider range of job options currently. There is emphasis on start-ups and entrepreneurship.
    5. Class Structure and Social Mobility
    The social mobility has greatly increased due to increase in economic opportunity. Social status is increasingly determined by meritocracy and financial achievement.

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Radhesh Gorle
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Radhesh GorleBegginer
Asked: August 10, 2024In: , ,
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  1. Anita Dhruw
    Anita Dhruw Legend

    Of course, there is always a question of whether haGH democracy and hyper-capitalism go hand in hand. As a rule, democracy and capitalism are different partners, although they often mean alike; at the same time, hypercapitalism can pose a danger to democratic values. Patholoygical hyper-capitalism wRead more

    Of course, there is always a question of whether haGH democracy and hyper-capitalism go hand in hand. As a rule, democracy and capitalism are different partners, although they often mean alike; at the same time, hypercapitalism can pose a danger to democratic values.

    Patholoygical hyper-capitalism where there is excessive greed for wealth, increased polarization of income inequality, undue influence by business corporations, and lack of regulation erodes democracy through: This preserves inequity with regards to economic resources placing legislative control in the hands of few rich individuals, who are able to fund their political campaigns and lobby the system, thus offering skewed policy ideal for the wealthy as opposed to the public good.

    In this context, hyper-capitalism can be explained because society is divided into the rich and the poor and their possibilities of life are as different as the immediate outcome of the process. That eventually results in social disorder, political crisis, and a decline in confidence in democracy.

    However, this paper should demonstrate that there are conditions in which democracy and capitalism can socially coexist and not only sustainably evolve but also complement each other. One can find that higher and powerful regulations, progressive taxation, and social welfare systems can help to reduce the effects of the negative side of hyper-capitalism and make economic growth more inclusive. That is, strong and effective civil society, engaged citizens, and a vibrant and independent media are key to curbing dominance of other interests-and for sustaining democracy.

    That is, hyper-capitalism is tightly connected with democracy as the interdependence between the two concepts has been balanced. Capitalism promotes or stimulates economic growth, innovation, and investment, but equally important, all this should not diminish the fundamental elements of democracy: democracy, respect for the rights of others, equality, fairness and respect for the rule or law. And thus, achieving the balance, the input and output factors, it is feasible to construct a society in which the people of that society are at one end beneficial economically as well as socially satisfied.

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