Ritically analyse one of the theoretical traditions discussed in the module. Marxist Political Economy. Marxism

Critically analyse one of the theoretical traditions discussed in the module.
landrenth
fusfeld
Marx: Marx and Engels lived in a time when the urban working classes were expanding massively. E.g. Engels lived in Manchester where there were huge factories etc. This contrasted with what had come before: i.e. artisanal labour carried out by small guilds. Rural labour is transformed into urban labour as the industrial revolution takes place.
-So his main theory is that capitalism produces an ever greater working class (which he called the proletariat), and that eventually this class will get so large that it will have the power and the will to overthrow the ruling class (i.e. the bourgeoisie). Capitalism eventually collapses under its own weight: it prepares the way for its own downfall.
-Proletariat is working class i?? which means that it is employed in wage labour. All the proletariat owns is their own labour. They can sell this labour. But they doni??t own the means of production.
The bourgeoisie is not employed in wage labour: it owns the means of production. That allows them to hold the proletariat to ransom, and remoe the means of production from them, thus condemning them to death.
-As capitalism progresses, the means of production get concentrated in ever fewer hands i?? i.e. they get monopolized.

-Eventually capitalism produces an i??abundancei?? i?? that is, enough wealth to mean that people hardly have to work and everyone is wealthy.