Capitalism Essay

Commodity production arose in the period of disintegration of the primitive communal society and gradually acquired increasing importance.

The Industrial Revolution signified the establishment of the material base corresponding to capitalist production relations.

It is, therefore, necessary to know what is commodity. From his analysis it appears that not every product of labour is a commodity.

If the product of individual’s labour satisfies his own needs or those of his family, then it is only a product, a thing, but not a commodity.

Capitalist production is the production of commodities.

Commodity production is the production of goods for exchange or sale it replaced the natural economy that was the dominant form of production under slavery and feudalism. In fact capitalism is the by­-product of Industrial Revolution and Marx’s philosophy centres around the devel­opment of capitalism and its consequence. The starting point of Marxian philosophy is capitalism.Marx identifies several fetishes in the sphere of economy. “The essence of commodity fetishism is that, in measuring the output of energy by labour-time, we introduce into the products of labour the measure which originally relates to the life-process itself commodity fetishism is the inability of human beings to see their own products for what they are, and their unwilling consent to be enslaved by human power instead of wielding it.Fetishism contains in embryo all other forms of alienation” (Kolakowski, There are two phases of commodity fetishism.The capitalist or the owner of capital brings them under one umbrella to manufacture something and this is commodity.In Bottomore’s book capitalism has been defined in the following language.The chief elements of capitalism are capital, means of production and labour.But these three elements do not normally constitute capitalism. It is said that capitalism is a social system based on the exploitation of wage labour by capitalists in whose hands the means of production are concentrated as their property. It is, at first, necessary to define capitalism, though the task of defining is not an easy one.


Comments Capitalism Essay

  • Capitalism Term papers, Capitalism research papers, essays.

    Capitalism and Communism are two totally different economic systems. Capitalism is a much better economic system than Communism. Capitalism is an economic system characterized by freedom of the market and is the economic system where you do not have freedom because the government will make most of your decisions for you.…

  • Free capitalism Essays and Papers -

    Capitalism is not dead - This essay shall illustrate the point that capitalism is not dead. Capitalism, indeed, has brought on successes, including market failures. A capitalist economy is an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services.…

  • Capitalism Essay - 1087 Words Bartleby

    Capitalism Essay 1175 Words 5 Pages. Capitalism Throughout my duration in college, business has been my major area of concentration. Capitalism is the most central and consequential topic which has to do with business. The ideals of capitalism, over time, have faced much scrutiny.…

  • Capitalism vs. Socialism Teen Ink

    For the longest time, capitalism and socialism have been two of the most argued and debated topics. Many view socialism as the better choice because it evens out and distributes the wealth so not.…

  • Capitalism Essay on Capitalism Market Economy

    Capitalism Essay on Capitalism Market Economy! Capitalism is ‘a system of economic enterprise based on market exchange’. The Concise Oxford Dictionary of Sociology 1994 defines it as ‘a system of wage-labour and commodity production for sale, exchange and profit, rather than for the immediate need of the producers’.…

  • Capitalism Essay - 1738 Words Cram

    Essay Funding And Capitalism. TARP Funding and Capitalism True capitalism doesn’t really exist in practice, as is the case with most theories and ideologies. Over time, these concepts, like capitalism, are warped to fit the needs of the person/group.…

  • The Advantages And Disadvantages Of Capitalism Economics Essay

    ADVANTAGES OF CAPITALISM. Capitalism, as we are aware, is an economy where resources and firms are privately owned in free markets. Normally, this usually involves some government intervention to regulate certain aspects of the economy and protect private property. Several advantages are included within a capitalist economy.…

  • Capitalism in the US Essay - 707 Words Cram

    Essay Capitalism And The Beginning Of Capitalism. Capitalism refers to an economic system where a private owner is in control of their own capital goods, investments, and distribution of these goods in a free market.…

The Latest from ©