Classic Readings In Economics: Karl Marx And Friedrich Engel ✓ Solved

20 CLASSIC READINGS IN ECONOMICS Karl Marx and Friedrich Engels

Karl Marx is probably the most famous critic of economics, and his legacy changed the course of history. Born in Germany, he moved to England because of political persecution and failure to find a job at home. He could not find a job in Britain either, but with the help of the industrialist Friedrich Engels, he managed to keep enough money coming in so he could continue his research and writing. Friedrich Engels was a German who worked in England for his father’s international textile business. He became interested in the condition of the working people of the 1840s and this led him to Marx.

Engels collaborated with Marx on The Communist Manifesto, which surveys history, arguing that it is a history of class antagonisms. They argue that the proletariat—workers—will become the ruling class under a new economic system—communism. The selection below ends with one of the most famous cries in all literature: “The proletarians have nothing to lose but their chains. They have a world to win. Working men of all countries, unite!” This selection was written in German and translated into English in 1850.

A spectre is haunting Europe—the spectre of Communism. All the Powers of old Europe have centered into a Holy Alliance to exercise this spectre; Pope and Czar, Metternich and Guizot, French Radicals and German police-spies. Where is the party in opposition that has not been decried as communistic by its opponents in power? Where the opposition that has not hurled back the branding reproach of Communism against the more advanced opposition parties, as well as against its reactionary adversaries? Two things result from this fact.

I. Communism is already acknowledged by all European Powers to be itself a Power. II. It is high time that Communists should openly, in the face of the whole world, publish their views, their aims, their tendencies, and meet this nursery tale of the Spectre of Communism with a Manifesto of the party itself. To this end, Communists of various nationalities have assembled in London and sketched the following Manifesto, to be published in the English, French, German, Italian, Flemish, and Danish languages.

INTRODUCTIONI. Bourgeois and ProletariansThe history of all hitherto existing society is the history of class struggles. Freeman and slave, patrician and plebeian, lord and serf, guild-master and journeyman, oppressor and oppressed, stood in constant opposition to one another, carried on uninterrupted, now hidden, now open fight, a fight that each time ended, either in a revolutionary reconstitution of society at large, or in the common ruin of the contending classes.

In the earlier epochs of history we find almost everywhere a complicated arrangement of society into various orders, a manifold gradation of social rank. The modern bourgeois society that has sprouted from the ruins of feudal society has not done away with class antagonisms. It has but established new classes, new conditions of oppression, new forms of struggle in place of the old ones.

Our epoch, the epoch of the bourgeoisie, possesses, however, this distinctive feature; it has simplified the class antagonisms. Society as a whole is more and more splitting up into two great hostile camps, into two great classes directly facing each other: Bourgeoisie and Proletariat. The discovery of America, the rounding of the Cape, opened up fresh ground for the rising bourgeoisie. This market has given immense development to commerce, to navigation, to communication by land. This development has, in its turn, reacted on the extension of industry.

The charges against Communism made from a religious, a philosophical, and generally, from an ideological standpoint, are not deserving of serious examination. Does it require deep intuition to comprehend that man’s ideas, views, and conceptions, in one word, man’s consciousness, changes with every change in the conditions of his material existence, in his social relations, and in his social life?

The Communist revolution is the most radical rupture with traditional property-relations; no wonder that its development involves the most radical rupture with traditional ideas. But let us have done with the bourgeois objections to Communism. We have seen above that the first step in the revolution by the working class is to raise the proletariat to the position of ruling class.

Finally, they labor everywhere for the union and agreement of the democratic parties of all countries. The Communists disdain to conceal their views and aims. They openly declare that their ends can be attained only by the forcible overthrow of all existing social conditions. Let the ruling classes tremble at a Communistic revolution. The proletarians have nothing to lose but their chains. They have a world to win. Working men of all countries, unite!

Paper For Above Instructions

Karl Marx and Friedrich Engels' "The Communist Manifesto" serves as a foundational text for understanding the emergence of modern social and economic theories, particularly in critiques of capitalism and proposals for communism. This paper explores the key arguments presented in the manifesto, focusing on its analysis of class struggles, the critique of capitalism, and the call for proletarian revolution.

First, the manifesto begins with the assertion that all previous societies have been structured around class struggles. Marx and Engels contend that these struggles are not merely accidents of history but fundamental features of social organization. They categorize society into oppressor and oppressed, stating that these dynamics have evolved through various forms, such as the lord-serf relationships of feudalism and the employer-employee relationships in capitalism (Marx et al., 2017).

The historical analysis presented by Marx and Engels reveals how the bourgeoisie, or capitalist class, emerged from feudalism, creating new forms of oppression. Their emphasis on the economic base of society as a determinant of social relations emphasizes that societal changes, particularly capitalist exploitation, lead to inherent tensions between classes. This analysis underpins their argument that the proletariat, or working class, will inevitably rise against the bourgeoisie due to the oppressive conditions imposed by capitalist production (Rong, 2020).

Marx and Engels argue that the productive forces are increasingly concentrated in fewer hands, leading to greater inequality and exploitation. This results in the proletariat becoming aware of their oppression and uniting for revolt. The manifesto outlines the necessity for the abolition of private property, positing that communal ownership of production means would alleviate class antagonisms. They claim that the abolition of private property is crucial to the advancement of society towards communism, where no class divisions exist (Rong, 2020).

The second critical argument presented in the manifesto is the distinction between socialism and communism. While socialism may address some inequalities through reforms, Marx and Engels argue that true communism requires a complete overhaul of property relations. They call for the establishment of a classless society where the collective ownership of the means of production replaces individual capitalist ownership. This radical transformation is touted as essential for overcoming the limitations of both capitalism and reformist socialism (Marx et al., 2017).

Further, Marx and Engels emphasize that the struggle for liberation extends beyond immediate economic concerns; it encompasses wider social struggles for liberty and equality. This interconnectedness prescribes the necessity for a unified revolutionary movement among the workers of various nations, suggesting that the proletariat shares a common destiny that transcends national borders (Rong, 2020).

However, critics of Marx’s approach highlight several concerns regarding the feasibility of a proletarian revolution. The central reliance on class consciousness among workers to instigate change is often viewed skeptically. Some argue that rather than leading to a revolutionary change, the pressures of capitalism have resulted in a form of conservative labor politics where workers seek to negotiate better terms within existing structures rather than overthrowing them (Rong, 2020).

Moreover, historical attempts at communism have raised questions about the practicality of abolishing private property entirely. Critics posit that the lack of individual ownership may lead to inefficiencies in production and a lack of innovation. Empirical evidence from communist states suggests that state control of industries can result in economic stagnation and bureaucratic inefficiency (Rong, 2020). This suggests that while Marx's theoretical framework presents a critique of capitalism, the practical implications of his revolutionary ideals are far more complex.

In conclusion, "The Communist Manifesto" remains a pivotal text in understanding the dynamics between class struggle and economic systems. Marx and Engels provide a compelling narrative on the need for revolutionary change in the face of capitalist oppression, emphasizing that the proletarian struggle must be both politically and socially motivated. Through their arguments, they proffer a blueprint for a future society devoid of class antagonism, lending insight into broader discussions about equality, freedom, and justice in industrialized societies. Nonetheless, the practical challenges to achieving such a vision continue to provoke debate among scholars and political theorists (Marx et al., 2017).

References

• Marx, Karl, Frederick Engels, and John E. Toews. The Communist Manifesto: With Related Documents. Macmillan Higher Education, 2017.
• Rong, Zhaozi. "Productivity, Public Capital, and Socialism with Chinese Characteristics–A Critique of the Doctrine of Incompatibility between Capital and Public Ownership." China Political Economy, 2020.
• Smith, Adam. The Wealth of Nations. Methuen & Co., Ltd., 1776.
• Lenin, Vladimir. State and Revolution. International Publishers, 1917.
• Marx, Karl. Capital: Critique of Political Economy. Penguin Classics, 1990.
• Taylor, Frederick Winslow. The Principles of Scientific Management. Harper & Brothers, 1911.
• Polanyi, Karl. The Great Transformation. Beacon Press, 2001.
• Piketty, Thomas. Capital in the Twenty-First Century. Harvard University Press, 2014.
• Gramsci, Antonio. Selections from the Prison Notebooks. International Publishers, 1971.
• Eagleton, Terry. (Why Marx Was Right. Yale University Press, 2011.