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please help! PLEASE. I am not trying to get you to do the work for me, I just don't understand it!
So i have a question about homework. No, I'm not trying to get anyone to give me an answer.. I'm just confused as to how Karl Marx's theory of economic crisis affects us today. Ive been reading up on it for the past two days, even watching youtube videos and I still dont understand it completely.. My paper is supposed to have us explain how a couple of his theories apply to us today.. and I wrote about the economic recession we are in today and im trying to apply it to Marx's theory of economic crisis
Simply put, I wrote about how machinery (constant capital) is slowly replacing living workers in the workplace.. which reduces the amount of wages that companys need to pay their workers.. which increases surplus value... but i dont exactly understand HOW this increase of surplus value is bad for the economy. In simplest termsm, what causes the rise of profit to fall? That's where I'm lost.. I just need a general explanation but whenever I read up on it I get lost because I"m not familiar with all these terms...
can someone break it down for me please? ANd maybe give me some examples of whats going on in America today in relevance to his theory, in order for me to better understand it?
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Simplest terms? Man are you asking a lot here... but:
When you reduce wages, in order to increase profits, the people who buy your stuff... not have less money to spend on it.
So, while the item costs less, everyone has less money to spend on it... which means that it costs MORE for the workers to buy things, if you count percentage of income, instead of number of dollars.
Hope that helps.
Don't feel bad about not having a firm enough grasp on all this. It is a big field of study.
If you have any other issues, ask VERY specific questions, as you did here.
Good luck.
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I studied Political ideologies for 2 years at college, but I sort of skimmed over Karl Marx and communism because it was such a big topic! So I may miss the mark completely, but Ive seen this question up 4 times or so, so i thought I should give it a shot.
Karl Marx wrote mainly about capitalism, in the form of a critique. So if surplus value increased (i.e. profit) it doesn't so much affect the economy, but makes business owners 'greedy' so to speak. It also allows the capitalist owner to make more money by paying the Labourer much less than they could. These things can lead to bad decisions (Banks, greed, etc) which may in turn affect the economy.
Marx was also ahead of his time on issues such as Globalisation (UN, EU, world trade etc). He was also right with the issue of differences in society being based on economic structure. But be sure to also point out what he was wrong with i.e. he was over idealistic when it came to predicting the unity of the working class.
In reference to Marx + his theory of economic crises, there are many links about this. I googled:
"Marx economic crises theory"
...and got a wealth of information.
Here is a wikipedia page, which i just found, and described what I did earlier, maybe more clearer though:
[Link](Mouse over link to see full location)
Hope I helped :)
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