Tuesday, December 8, 2015
Third Installment - Imran Khan - Section 8
Predictions and Theories
Karl Marx made many different predictions during his time about the world and our society. Many of these predictions have actually come true today. The ideas and theories Marx had developed are more relevant now they have ever been before. I would like to discuss a little bit about the predictions and ideas Marx had on Globalization and our Markets. Marx had actually anticipated globalization and how it would spread across the world. Globalization has only showed up quite recently in our society. The world’s markets are now controlling almost all aspects of life and are a major controversial issue of our time. Marx predicted a single global market under capitalism in his book the Communist Manifesto. One of Marx’s other predictions was about monopolies. Marx believed that eventually all of these small family owned businesses would become increasing larger and turn into huge companies like Walmart. He said that almost every section of our economy would be basically centralized with only a few major monopoly businesses controlling the vast majority of that market. The next idea Marx had was about recession and how these large monopolies could be the cause of future recessions. He believed that these companies would have such a drive to make high profits, which in turn would cause them to lower their workers wages and up the production of goods. The great depression and even the dot-com associated with the Internet can be linked back to Marx’s theories on capitalism and globalization. Our societies markets continue on pushing out as much produce as possible until there is no need for that produce anymore or no new debts can be made. This is one of the reasons we had a huge crash in our economy in 2008. As you can see Marx had so many different theories and predictions of how our world would come to be. When he was living not too many people paid it any attention, but now we can see how all of his work comes together to explain many economical issues today.
Sources: 1) http://www.rollingstone.com/music/news/marx-was-right-five-surprising-ways-karl-marx-predicted-2014-20140130
First Installment: http://cophilosophy.blogspot.com/2015/11/karl-marx-by-imran-khan-8.html