POLI 243 Midterm: Marxism

• School: McGill University
• Department: Political Science
• Course: POLI 243
• Professor: Anthony Imbrogno

Document Summary

A mode of scientific analysis and/or way to critique persistent inequality and exploitation. Marx"s idea complicated; focus on critique of capitalism. Value of goods = amount of labor used to produce it. Wage is not equal to full value of labor. Difference flows to owners of production in addition to profits from selling. Repeat over time and result in scare resources distributed to few. Capitalists focus on self interest and individual welfare = bourgeoisies are constantly seeking more profits. Cut costs, including labor costs; workers own less and less capital. Marx foresaw no way out of spiraling inequality. Criticized efficient allocation of scare resources by competitive market. State captured by bourgeoisie to reinforce inequality prevent redistribution. Capitalists give legitimacy to profit motive, circumventing redistribution. In terms of ipe, there is no such thing as state competition. Competition is between capitalist classes in each state. Trade flows are international because capital seeking low labor.