Karl Marxs Predictions on the Industrial Revolution- An Analysis of Social Change and Accuracy
Karl Marx made several predictions about the latest development stage of man’s path to communism. He thought human history could be explained by the struggle between social classes based on material. Karl Max saw that an individual first needed to own financial capital to acquire physical capital. He claimed that the capitalists seized surplus labour and made unfair profits. Subsequently, Karl Marx believed the workers had a moral claim on the sales revenues because they produced the goods and not the capitalists.
In light of his beliefs, he predicted the political and economic proletariat. According to him, it was inevitable because they were numerous compared to the capitalists and would win the struggle of classes. They need to recognize the problem by being conscious of classes. I argued that in every industry, there is competition between capitalists, and it can lead to a decrease in prices, a collapse in net profits, and overproduction. Capitalism is unstable because it depends on profits.
Additionally, Karl Marx believed that the Industrial Revolution would widen the gap between the two social classes. During the industrial revolution, the working conditions of the producers were appalling, and they had no rights whatsoever. No universal suffrage of the workers was available either. These were illustrations of the social, political, and economic impact of the Industrial Revolution. Consequently, he believed that the gap between the workers and owners would be polarized. It will only occur when the proletariat becomes class-conscious and rises to overthrow capitalism.
In conclusion, Karl Marx is correct in his arguments and predictions about the industrial revolution. His ideas were accepted in the 19th and 20th centuries to be unchallengeable. The theories and concepts were essentially correct, and the real-world disasters in communism happened because of the failure to implement his ideas correctly.
References
Hartwell, R. M. (2017). The industrial revolution and economic growth (Vol. 4). Taylor & Francis.
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Karl Marxs Predictions on the Industrial Revolution- An Analysis of Social Change and Accuracy
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