KARL MARX AND FREE ASSOCIATION OF PRODUCERS
As shared yesterday, Karl Marx views and ideas have stayed on despite all his challenges during his lifetime. His theories and his point of view on capitalism have its own strengths. For someone who had studied extensively on various economic theories including Adam Smith's, his theory and views need consideration with an open mind.
At the same time, there are certain aspects of his theories that need to be questioned.
Here are some of my perspectives on this topic. Karl Marx promoted a free association of producers, a free mix of labor force, reduce boundaries, and eliminate private ownership. Going by that route, organizing unions might not completely align with the idea of free production. Some of it also comes from globalization.
Secondly, Karl Marx promoted sustainable resource management. But, free production, indirectly makes a big assumption that human actors are rational thinkers. But, with a finite amount of natural resources, free association of producers has its own challenges as does the capitalistic system.
As pointed out repeatedly, we are in a world where every economic system has gotten mixed up, and solving economic problems has become more of an optimization problem now.
At the same time, there are certain aspects of his theories that need to be questioned.
Here are some of my perspectives on this topic. Karl Marx promoted a free association of producers, a free mix of labor force, reduce boundaries, and eliminate private ownership. Going by that route, organizing unions might not completely align with the idea of free production. Some of it also comes from globalization.
Secondly, Karl Marx promoted sustainable resource management. But, free production, indirectly makes a big assumption that human actors are rational thinkers. But, with a finite amount of natural resources, free association of producers has its own challenges as does the capitalistic system.
As pointed out repeatedly, we are in a world where every economic system has gotten mixed up, and solving economic problems has become more of an optimization problem now.
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