Marxist tradition Essay Example | Topics and Well Written Essays - 500 words

Marxist tradition - Essay Example In fact, Karl Marx presented this new logic of political economy in a statement: â€Å"An increase in the productivity of labour means nothing more than that the same capital creates the same value with less labour, or that less labour creates the same product with more capital† (Marx, 1863-1883, p. 271). In other words, industrial development neglected the value of working class, as capitalists had put their incomes on the pedestal of social relations. In short, the dialectical type of antagonist relations that showed up after capitalist change was the main object of Marxist critique.On the one hand, Marx clearly understood the key trends of his time based on the prevalence of economic relations in all social spheres. In this context, Marxism proposed the pioneer theoretical framework; it stated that working hard means nothing in the new society. In contrast, classical liberalism that believed in market self-regulatory power to human prosperity (Smith, 2007) could not overcom e this new type of social inequality. Moreover, Marxism served as a good base to further investigation of capitalist transformations in the society. For instance, modern ‘theory of oppressed† shows that Marx was convincing and predicted the main challenges of capitalist social order. In general, Marxism noticed the main danger of the twentieth century that led to huge transformations of the world order; in this context, Marx and Engels (1848) widely discussed the position of proletariat as neglected by revolutionary class, whose voice is important but not heard.