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Capitalism and Political Economy

Capitalism as we all know is about, private ownership, competition, profit and rapid growth. In the article, “What are Wages”, Karl Marx says that capitalism is presented as a “natural system” and it forces beyond human control. I completely agree with this statement because we labor to pursue our own needs. We have to do it because society has in-bedded in our brains and in the system that we “cant do anything on our own. It is “supply and demand, they demand and we supply, and this to me is unstoppable because its “considered” and “good thing” because it generates wealth. It increases the market, the profit and it changes the society. When I think of capitalism, I think about Starbucks. What does Starbucks have? I believe  when Starbucks started it was about coffee and for coffee drinkers. Starbucks is capitalism, it grows; it started off small, it started with 1 vision and now it is everywhere. According to Karl Marx, In capitalism it means “money” and that is the highest stage of human development, “Money means power. We, the people, advance is the participation and it goes to the division of labor and it becomes oppressive. The working class is always exploited and we will only survive as long as we let it. This is what Karl Marx is explaining that the cost of production is the labour that we have to keep investing in the things we already have. For example the machine that cost 1,000 shillings, you have to keep adding on to it, in order to be able to replace it when its worn out.

The article by Rank, Hirshil and Roster “From High Hopes to Low Wages”, Its like a combination of everything like welfare, and inflation. He explains how people are willing to take a job that pays them less than what it should be getting paid, then the employer will find more people that are willing to take that low paying job. The employer is okay with paying you less more because it becomes convenient for them. The more we get paid the higher the living goes. I really like this quote that Karl Marx says, “What the bourgeoisie therefore produces, above all, are its own grave-diggers.” Its the truth, we are our own destruction.