Karl Marx

Karl Marx saw many problems with the capitalist system. He tried to

identify and remedy the problems of capitalism through his creation of

Marxism. He felt that capitalism benefited the owners of the means of

production, not the worker.

Karl Marx describes capitalists as people with a “vampire thirst for the

living blood of labour.” As he describes capitalism his main objection to the

economic system is what was know as the “labor theory of value.” The

theory says that the value of any commodity is a function of the amount of

labor that it took to produce it. In capitalism, labor is a commodity the

value of the labor is determined by it’s cost. The cost of a worker’s labor is

the cost of sustaining him. Marx says only in an ideal world will the product

be sold for it’s just price. Capitalists attempt to find a way to receive a profit

from this product. They do so by forcing the laborer to work more hours th...