Capitalism Arguments of Erik Wright and Mathias Greffrath

Capitalist System
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Capitalist System
Capitalism is one of the most debated topics in the modern-day. An increase in income inequality and unemployment levels in the last fifty years has led many to question the viability of the capitalist system. The 2007/2008 financial crisis only served to worsen people’s view of capitalism. People are afraid of the growing power of conglomerates and the ever-increasing inequality gap. Although 99% of the world economies function under capitalism, anti-capitalist sentiments are still present in these nations.
In his article, Mathias Greffrath revisits “Das Kapital” by Karl Marx. The author notes that, unlike earlier periods when leftists mainly expressed anti-capitalist sentiments, today, “…word of “secular stagnation” is spreading…” (Greffrath, 2018). These remarks show that experts in the field of economics are seriously considering an alternative to capitalism. Finally, Greffrath notes ...