Political Systems: Marxist Critique of Capitalism.

Political Systems: Marxist Critique of Capitalism
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Political Systems: Marxist Critique of Capitalism
Marxist criticized capitalism for creating two antagonistic classes, which widened the gap between the rich and the poor. The first class was made up of the wealthy capitalists who consisted of factory owners, while the second group was the impoverished workers who survived on subsistent wages. The Marxists argued that the capitalists took advantage of workers to pocket excessive profits. Marxists argued that capitalists believed in constant accumulation of wealth where big corporations aim at getting bigger. Such a system contributes to hostile mergers and acquisition, which eventually force out all competitors (Magstadt, 2017). This ultimately leads to the last era of capitalism known as monopoly capitalism, resulting in the collapse of the entire capitalist system. In the meantime, the proletarian (workers) revolution spreads as workers protests against capitalist exploitation, and this initiates the...