61 - 6. Capitalism as a system of production The most...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
6. Capitalism as a system of production   The most famous theories here are those of Marx. He saw economic development as  a series of different types of labor exploitation (primitive communism, slave  systems, feudalism, capitalism, socialism, and communism). He believed that  capitalism was the most efficient "mode of production" yet developed, because of the  way in which it expanded through the investment of profits and the search for new  technology. But he also believed that the exploitation of labor would eventually lead  to revolution, and the replacement of capitalism by socialism, and that his own role  was to help this happen. Clearly much of what Marx predicted has not happened,  despite the Russian and Chinese revolutions in the 20th century, but modernized 
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 01/17/2012 for the course SCIE SYG2000 taught by Professor Bernhardt during the Fall '10 term at Broward College.

Page1 / 2

61 - 6. Capitalism as a system of production The most...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online