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Most people agree that we need to improve our economic system somehow. Yet we’re also often keen to dismiss the ideas of capitalism’s most famous and ambitious critic, Karl Marx. This isn't’t very surprising. In practice, his political and economic ideas have been used to design disastrously planned economies and nasty dictatorships. Nevertheless, we shouldn't’t reject Marx too quickly. We ought to see him as a guide whose diagnosis of Capitalism’s ills helps us navigate towards a more promising future. Capitalism is going to have be reformed — and Marx’s analysis are going to be part of any answer. Marx was born in 1818 in Trier, Germany. Soon he became involved with the Communist party, a tiny group of intellectuals advocating for the overthrow of the class system and the abolition of private property. He worked as a journalist and had to flee Germany, eventually settling in London. Marx wrote an enormous number of books and articles, sometimes with his friend Friedrich Engels Mostly, Marx wrote about Capitalism, the type of economy that dominates the western world. It was, in his day, still getting going, and Marx was one of its most intelligent and perceptive critics. These were some of the problems he identified with it: Modern work is “alienated” One of Marx’s greatest insights is that work can be one of the sources of our greatest joys. But in order to be fulfilled at work, Marx wrote that workers need ‘to see themselves in the objects they have created’. Think of the person who built this chair: it is straightforward, strong, honest and elegant It’s an example of how, at its best, labor offers us a chance to externalize what’s good inside us. But this is increasingly rare in the modern world. Part of the problem is that modern work is incredibly specialized. Specialized jobs make the modern economy highly efficient, but they also mean that it is seldom possible for any one worker to derive a sense of the genuine contribution they might be making to the real needs of humanity. Marx argued that modern work leads to alienation = Entfremdung in other words, a feeling of disconnection between what you do all day and who you feel you really are and what you think you ideally be able to contribute to existence. Modern work is insecure Capitalism makes the human being utterly expendable; just one factor among others in the forces of production that can ruthlessly be let go the minute that costs rise or savings can be made through technology. And yet, as Marx knew, deep inside us, we don’t want to be arbitrarily let go, we are terrified of being abandoned. Communism isn't’t just an economic theory. Understood emotionally, it expresses a deep-seated longing that we always have a place in the world’s heart, that we will not be cast out. Workers get paid little while capitalists get rich This is perhaps the most obvious qualm Marx had with Capitalism. In particular, he believed that capitalists shrunk the wages of the laborers as much as possible in...
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