U.S. Economy, Examined Under Marxist Theory

SOC 221
08 May 2003

U.S. Economy, Examined Under Marxist Theory

In his critique of modern society, political and economic theorist Karl Marx asserted that industrial capitalism manifested severe inequality between the owners (bourgeoisie) and the working class (proletariat), which ultimately would lead to revolution and the establishment of a classless society. Under examination, the United States is a prime example of a country with a capitalist economy that exhibits great economic disparities among different social classes. Under the current leadership of President George W. Bush, the U.S. federal government has embarked on a series of tax cuts in an effort to stimulate America’s lackluster economy. In January 2003, President Bush unveiled a $674 billion tax plan deemed to strengthen the U.S. economy by proposing an end to taxes on some dividends, with the hope that it will encourage job growth and investment in new capital—two necessary factors needed to jumpstart the ...