Marx’s Concept of Capitalist Accumulation
Karl Marx has been long considered as one of the most influential social thinkers of the 19th century. His principles and teachings regarding capitalism and social inequality among industrialized societies emerged as one of the most controversial discussions in the fields and disciplines of economics and politics which until now are famously lectured among universities all over the world. The influences of Marx’s teachings fueled the most contentious revolutions within and across nations as recorded in world history. The bulk of Marx’s arguments revolve around the issues on political economy emphasizing that initiating change in the current capitalist social will be only possible through the distinctions of the existing social problems and issues that confronts men. He further highlighted the importance of the individuals’ access to basic social needs such as food, shelter, and clothing in order to participate on social issues that beset the community they belong particularly when it comes to politics, economy, religion, and education (, 2000).
When it comes to profit accumulation, Marx clearly puts it that revenues and return on investments amassed and collected by the owners of production systems in a capitalist economy is a direct indication of exploitation of the labor force. Since the interest gained by capitalist through the goods and services produced by workers rely entirely on the added value or the excess and superfluous efforts from the members of the production system, issues regarding unequal return on the work rendered by laborers is a clear manifestation of exploitation particularly when they can not afford the output they delivered. In this regard, capital accumulation among capitalist societies and production systems creates economic classes characterized with the existing relationships between authorities and subordinates. Such relationship, called production relations, constitutes the unequal benefits appropriated by owners of the production system and that of the workers (, 2003).
The proletariat in this respect is expected to be progressive in terms of initiating change in the economic structure of the production system so as to fashion the political structure into social communities can be identified with equality and freedom. Moreover, such change necessitates the occurrence and incidence of crisis within the capitalist economic system to overthrow the concept of capitalism. The resulting social relationship will create a state of equality among every member of the society characterized with socialist relationships that will eventually evolve into a communist society. Public ownership of the means of production will be then realized so as to undermine the inequalities that exist among capitalist societies. All these will cease the existence of economic crises among capitalist societies which gets more serious as time passes. Being able to participate fully in social, political and economic discussion across all members of the society is the main objective of Marxism theory of political economy (, 1867).
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