In the introductory essay, Karl Marx seems to make a comparison between wealth and capital which have a direct relation to an individual’s social standing (Longhofer & Winchester, 2016). This implies that the more wealth an individual accumulates; it suggests that they typically have better resources. Therefore, with the development of technology, those who are considered poor will afford luxurious items. As globalization occurs, demand increases, it creates a stockpile for consumer goods, which confirms why people across the world live outside their means. Overall, the concepts of capitalism and globalization will always go hand-in-hand.

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I believe that Marx’s works primarily intended to be a theoretical interpretation of communism through the economic analysis of capitalism that is primarily based on labor theory. This is evident in Marx’s prediction of the economic breakdown of capitalism that he replaces with communism in the essay (Marx & Engels, 2012). However, what is evident is the fact that he refused to speculate on communism nature because it would appear as a historical process, unlike a theoretical perspective.

On the other hand, the bourgeoisie played a most revolutionary part because of the development in the mode of production and exchange as a result of several revolutions (Marx & Engels, 2012).. Their developments began in the earliest towns but later gained momentum as the exploration age began (Marx & Engels, 2012). Before the revolution, the bourgeoisie made markets to grow that increasing the demand for manufacture, which later led to the Industrial Revolution.

Marx and Engel refer to industrial classes as weapons that are necessary for the conservation of different mode of production. This made the bourgeoise to call into existence the proletariat who are considered as revolutionary instruments of production (Marx & Engels, 2012).

I believe that capitalism still exists and communism has struggled to survive because with capitalism human beings are able to survive within the current society (Marx & Engels, 2012). This is because people will be able to have jobs in privately owned facilities, private control of the factors of production, competition and capital accumulation. On the contrary, why communism has failed is because it is entirely controlled by the government, which makes Marx and Engel’s argument convincing.

  • Longhofer, W., & Winchester, D. (2016). Social theory re-wired: New connections to classical and contemporary perspectives. Routledge.
  • Marx, K., & Engels, F. (2012). The communist manifesto: A modern edition. Verso Books.