Contemporary Relevance of Marxism

Qn. Examine the Contemporary Relevance of Marxism.

Karl Marx was an eminent philosopher, renowned economist, historian, journalist, political ideologue, revolutionary socialist, great intellectual, and multilingual expert. Marx studied in depth the condition of the working classes in the then-prevailing situation in Britain especially in the background of the Industrial Revolution. He has started forming trade unions in London. His materialistic conception of history is emphasized the practical side of human activity. Marx developed:

  • Law of development of human history
  • Law of Capitalist development
Marx's analysis of Capitalism - Surplus Value, Unpaid labor, exploitation, Governmental action, Profit maximization, Capital accumulation

Marx in his 'Das Kapitol' and 'Communist Manifesto', disclosed the theory of 'surplus value' and how capitalists appropriate wealth and explained how Capitalists dig their own graves. 

He further elaborated on how developing the means of production and production relations clash with each other changing the socioeconomic formations and finally up with a new system of exploitation-free society.

He asserted that people are the driving force of society. 'Workers of the world unite, you have nothing to lose but chains' - guides the working class to intensify their struggles.

Capitalism and its irresoluble contradiction between the social nature of production and the individual nature of appropriation. The praxis of building a powerful alternative is the only way in which comprehensive human emancipation and liberation is possible.

As Marx explained, the Capitalist crisis is not a result of the 'greed' of some individuals, but it is inherent to the dynamics of the Capitalist system that is based on human exploitation.

Marx's analysis of Globalization - Culture, Homogenization

Cultural hegemony seeks to globalization which inturn seeks to homogenization of public taste. The more it is homogenous easier it is to develop technologies for the mechanical reproduction of cultural products for large masses.

Commercialization of culture is a natural corollary of such globalization.Culture does not act as an appeal to the aesthetic but as a distraction from pressing problems of poverty and misery.

Assessment of Marx's predictions -

  1. Marx failed to take into account the changes within Capitalism. He didnot anticipate or comprehend tis tremendous resilience.
  2. He failed to take into cognizance of the fact that " a hatred of capitalism need not lead to socialism" but "can take other political directions".
  3. The substantial portion of the population was neither bourgeoise not proletarian , rather middle class was on the increase.
  4. Bernstein questioned the capacity of working class to assume control of the means of production.

However, Cuba's standing in the forefront in the medical field under a socialist government, Vietnam being the fastest developing country in the world shows a successful communist revolution. As Rosa Luxemberg and Fidel Castro says, the future of humanity is either Socialism or Barbarism.

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