Karl Marx’s Theory of the Capitalist Economic System

Karl Marx was born in Trier, Germany in 1818. He was a Economist, Philosopher and a Sociologist. Marx attained his PhD in Philosophy from the University of Berlin in 1841. Among the various theories and concepts developed by Marx, his theory on the capitalist economic system along with the concept of the base and superstructure is what he widely recognized by. Although Marx was born in a fairly wealthy middle class family, Marx has always questioned the capitalist system that is being utilized. More recently with the emergence of media, the capitalist system has been able increase the gap between the poor and the wealthy. The documentary, Class Dismissed: How TV Frames the Working Class addresses the inequality of the capitalist system with the aid of Marx’s theory of capitalist, in addition to educating the audience of the dishonest techniques utilized by the media to conceal this inequality (2005,Alper). The film, Class Dismissed: How TV Frames the Working Class, by Loretta Alper illustrates how the media uses stereotypes in a humorous manner to gain viewers. The film is based on the 90’s sitcoms. As described by the film, many of the most memorable characters of these sitcoms are of the working class (2005). Furthermore it states that since we view television as a source of entertainment not education, we are easily being subconsciously manipulated. Most if not all the sitcoms presented, showed the working class as buffoons. From characters like Doug, from King ofShow MoreRelatedKarl Marx and Capitalism Essay880 Words   |  4 PagesKarl Marx, in the Capital, developed his critique of capitalism by analyzing its characteristics and its development throughout history. The critique contains Marx’s most developed economic analysis and philosophical insight. Although it was written in 1850s, its values still serve an important purpose in the globalized world and maintains extremely relevant in the twenty-first century. Karl Marx’s critique of political economy provides a scientific understanding of the history of capitalism.Read MoreKarl Marx s Theory Of Alienation Essay1686 Words   |  7 PagesSociologist Karl Marx concentrated deeply on economic problems and related these matters to social issues. For example, when Marx examined capitalism in the labour sector he came to the conclusion that it drove workers to feel alienated from the product, themselves and those surrounding them. This essay will firstly give a brief overview of industrial capitalism and discuss Karl Marx’s early life and how he came up with the theory of alienation through his influences and life experiences. 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Some of his most important phrases most central to Marx’s thinking were alienation, freedom, surplus value, and social relations of production. The new ideas he presented regarding politics and economics, his critiques of other theories and politicalRead More Karl Marx and His Radical Views Essay1169 Words   |  5 PagesKarl Marx and His Radical Views Karl Marx[i] Karl Marx is among the most important and influential of all modern philosophers who expressed his ideas on humans in nature. According to the University of Dayton, â€Å"the human person is part of a larger history of life on this planet. Through technology humans have the power to have an immense effect on that life.†[ii] The people of his time found that the impact of the Industrial Revolution would further man’s success within thisRead MoreThe Contribution Of Karl Marx Essay1337 Words   |  6 PagesThis essay considers the contribution of Karl Marx to the study of sociology, throughout this essay I will be discussing what Marxism is, how Marxism has affected today’s society as well as academics that did not agree with Marx’s theories. Marxism is the social and economic system based on the theories of Karl Marx and Freidrich Engels. Karl Marx was born in Trier, Germany in 1818, Marx studied law and Berlin University but later changed to philosophy until finally perusing his interest in journalismRead MoreKarl Marx And Adam Smith Essay1639 Words   |  7 PagesPresence of the Theories of Karl Marx Adam Smith Within the Canadian Economy Written by: Jason Kothary, Zach Shafi, Sam Girma Kevin Sallaku Research: Ryan Salehi, Zack Izzeddin, David Moffett, Cameron Bernardo, Harrison Toms, Taha Mahmood, Anthony Alexiou, Jason Kothary, Zach Shafi, Sam Girma Kevin Sallaku Canada’s economy is one that exhibits a multitude of characteristics that adhere to the capitalist and socialist constructs of a mixed system. In order to clearly define and analyze theRead MoreMarx: The Economic Basis of Human Societies 1093 Words   |  5 PagesMarx: The Economic Basis of Human Societies Introduction Marxism as it is known today states that â€Å"actions and human institutions are economically determined, that the class struggle is the basic agency of historical change† (Collins English Dictionary, 1994: 959). In this assignment the worldview of Karl Marx will be discovered and the crux of Marxism will be uncovered. Marx’s Life and Work Karl Marx was born in 1818 in Germany during an oppressive time. His Jewish father who; under the discriminatoryRead MoreLife of Karl Marx Essays1493 Words   |  6 Pagesof Karl Marx Karl Marx was possibly one of the most influential thinkers of his time. Marx was born in Trier, Germany on April , 15 1818. His father, a Jewish lawyer, provided a comfortable life for Marx and his siblings. His mother, Henrietta, was of Dutch decent. His parents goal was to provide a family life that would foster an environment conducive to the development of their children. His father hoped Karl wouldRead MoreTheories of Karl Marx1427 Words   |  6 PagesINTRODUCTION Karl Marx, also a philosopher was popularly known for his theories that best explained society, its social structure, as well as the social relationships. Karl Marx placed so much emphasis on the economic structure and how it influenced the rest of the social structure from a materialistic point of view. Human societies progress through a dialectic of class struggle, this means that the three aspects that make up the dialectic come into play, which are the thesis, antithesis and the

Inventory Management Virgin Store Case Study

Question: Write about theInventory Managementfor Virgin Store Case Study. Answer: Inventory Techniques used by Virgin Megastore ABC Analysis It is a common inventory technique used by the company. Virgin Megastore classifies its inventory into three classes. That is A, B and C. Class A comprises of high annual dollar volume products of 70-80%. The products in class A includes raw materials, purchased stock, completed and waiting for shipment, finished products and stock necessary to keep machinery and other processes productive. The Class B includes medium annual dollar volume products of 15- 25%. The products in this category comprise of work in progress and products almost complete. Class C - low annual dollar volume products of 5%. Class C products comprise of maintenance and repair stock. The company categorizes products based on the cost significance and inventory value. Then each category of the inventory is managed differently. According to Aro-Gordon, Gupte, Mysore, 2016,) ABC technique is made more appropriate when used together with Just-In-Time technique. The company ABC analysis schedule is as illustrated be low; A items once a month B items once a quarter C items once every 6 months This the Schedule used by the Company to Carry out Cyclical Counting. How Virgin Megastore Manages its Inventory Virgin Megastore lays emphasis on inventory accuracy. To achieve this, the company has employed accurate recording and cyclical counting of the inventory. Knowing the exact amount of inventory in the store helps the management focus on the needs of the customers (Aro-Gordon , Gupte , Mysore , 2016). Accurate inventory managements ensures the right number of inventory is planned for ordering, scheduling, and shipping. Strategies, Techniques, and Software used for Inventory Management Virgin Megastore uses Micro-strategy business intelligence software that is integrated into the companys JDA MMS merchandising system(Hadfield, 2017). This information system helps the company to plan for the purchase of the products at store level. Again, this system has been very crucial in helping the company increase its sales and minimize the level of capital tied up in the stocks in the store. To ensure consistency of accurate inventory records, the company also carries out cyclical counting. The current inventory total is compared with the accurate records, and the inaccurate are documented. This helps in maintaining the reliable record of the inventory in the store. It also helps managers to adopt to control measures to reduce loss, pilferage, theft and shrinkage. The Epos-Linked Virgin Information System is another strategy that has been used by the company to carry out assortment plans in its stores. This software helps in managing the buyers demands by matching their demands with supplies. References Aro-Gordon , S., Gupte , J., Mysore . (2016). Contemporary Inventory Management Techniques: A Conceptual Investigation. International Conference on Operations Management and Research, 1(1), 1-20. Retrieved from https://www.google.com/url?sa=trct=jq=esrc=ssource=webcd=1cad=rjauact=8ved=0ahUKEwjggdmgq8vTAhXDLcAKHRdsB2kQFggrMAAurl=http%3A%2F%2Fsdmimd.ac.in%2Fpdfs%2FContemporary_Inventory_ICOMAR16.pdfusg=AFQjCNFp3YWKGgHb7YTqDmO_88IYcBNORwsig2=EtMsHyPa9YGJ Hadfield, W. (2017, February 6). Virgin Retail gets stock on the move with BI software. Retrieved from TechTarget: https://www.computerweekly.com/feature/Virgin-Retail-gets-stock-on-the-move-with-BI-software

Honda Motor Company free essay sample

A look at Hondas marketing trends from the early nineties until today. Using Honda Motor Company as a case analysis, this paper examines why the companys entrance into the United States market was successful. It looks at the strategic issues which faced Honda in the early nineties and compares how this strategy was different from their strategy for European markets. The paper continues with how the economic trends of the mid 90s affected the company and predicts what the future might hold. Hondas entry into the United States was successful for a plethora of reasons. What makes Hondas success particularly remarkable is the fact that Honda managed to survive and prosper in a relatively quick frame of time in an automobile industry that is known for its massive capital requirements. One of the most important factors that contributed to Hondas success in entering the United States market was its willingness to be aggressive and take risks, both in terms of its design, marketing, pricing, and production operations. We will write a custom essay sample on Honda Motor Company or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Another fact that bolstered Hondas success in the United States market was its willingness to adapt to change, as evidenced by the fact that Honda commonly revamps its models every 4-5 years.

The 1932 March of the Veterans Bonus Army

The 1932 March of the Veterans Bonus Army The Bonus Army was the name applied a group over 17,000 U.S. World War I veterans who marched on Washington, D.C. during the summer of 1932 demanding immediate cash payment of the service bonuses promised to them by Congress eight years earlier. Dubbed the â€Å"Bonus Army† and â€Å"Bonus Marchers† by the press, the group officially called itself the â€Å"Bonus Expeditionary Force† to mimic the name of World War Is American Expeditionary Forces. Fast Facts: March of the Veterans Bonus Army Short Description: 17,000 World War I veterans occupy Washington, D.C., and march on the U.S. Capitol to demand payment of promised military service bonuses.Key Participants:- President of the United States Herbert Hoover- U.S. Army General Douglas MacArthur- U.S. Army Major George S. Patton- U.S. Secretary of War Patrick J. Hurley- District of Columbia Police Department- At least 17,000 U.S, WWI veterans and 45,000 supporting protestersLocation: In and around Washington, D.C., and the United States Capitol groundsStart Date: May 1932End Date: July 29, 1932Other Significant Dates:- June 17, 1932: U.S. Senate defeated a bill that would have advanced the date of payment of bonuses to the veterans. Two veterans and two D.C. police officers die in the ensuing protest.- July 29, 1932:   On the order of President Hoover, through Sec. of War Hurley, U.S. Army troops commanded by Maj. George S. Patton attack the veterans forcing them from their encampments and effectively ending the crisis . A total of 55 veterans were injured and another 135 were arrested.Fallout:- President Hoover was defeated by Franklin D. Roosevelt in the 1932 presidential election.- Roosevelt immediately reserved jobs for 25,000 WWI veterans in his New Deal program.- In January 1936, WWI veterans were paid over $2 billion in promised combat bonuses. Why the Bonus Army Marched Most of the veterans who marched on the Capitol in 1932 had been out of work since the Great Depression began in 1929. They needed money, and the World War Adjusted Compensation Act of 1924 had promised to give them some, but not until 1945 a full 27 years after the end of the war they had fought in. The World War Adjusted Compensation Act, passed by Congress as sort of a 20-year insurance policy, awarded all qualified veterans a redeemable â€Å"Adjusted Service Certificate† worth an amount equal to 125% of his wartime service credit. Each veteran was to be paid $1.25 for each day they had served overseas and $1.00 for each day they served in the United States during the war. The catch was that the veterans were not allowed to redeem the certificates until their individual birthdays in 1945. On May 15, 1924, President Calvin Coolidge had, in fact, vetoed the bill providing for the bonuses stating, â€Å"Patriotism, bought and paid for, is not patriotism.† Congress, however, overrode his veto a few days later. While the veterans might have been happy to wait for their bonuses when the Adjusted Compensation Act passed in 1924, the Great Depression came along five years later and by 1932 they had immediate needs for the money, like feeding themselves and their families. The Bonus Army Veterans Occupy D.C. The Bonus March actually began in May 1932 as some 15,000 veterans assembled in makeshift camps scattered around Washington, D.C. where they planned to demand and wait for the immediate payment of their bonuses.   The first and largest of the veterans’ camps, dubbed â€Å"Hooverville,† in as a backhanded tribute to President Herbert Hoover, was located on Anacostia Flats, a swampy bog directly across the Anacostia River from the Capitol Building and the White House. Hooverville housed about 10,000 veterans and their families in ramshackle shelters built from old lumber, packing boxes, and scrapped tin  from a nearby junk pile. Including the veterans, their families, and other supporters, the crowd of protesters eventually grew to nearly 45,000 people. Veterans, along with the assistance of the D.C. Police, maintained order in the camps, built military-style sanitation facilities, and held orderly daily protest parades. The D.C. Police Attack the Veterans On June 15, 1932, the US House of Representatives passed the Wright Patman Bonus Bill to move up the payment date of the veterans’ bonuses. However, the Senate defeated the bill on June 17. In protest to the Senate’s action, the Bonus Army veterans marched down Pennsylvania Avenue to the Capitol Building. The D.C. police reacted violently, resulting in the deaths of two veterans and two police officers. The U.S. Army Attacks the Veterans On the morning of July 28, 1932, President Hoover, in his capacity as Commander in Chief of the military, ordered his Secretary of War Patrick J. Hurley to clear the Bonus Army camps and disperse the protesters. At 4:45 p.m., U.S. Army infantry and cavalry regiments under the command of General Douglas MacArthur, supported by six M1917 light tanks commanded by Maj. George S. Patton, assembled on Pennsylvania Avenue to carry out President Hoover’s orders.   With sabers, fixed bayonets, tear gas, and a mounted machine gun, the infantry and the cavalry charged the veterans, forcibly evicting them and their families from the smaller camps on the Capitol Building side of the Anacostia River. When the veterans retreated back across the river to the Hooverville camp, President Hoover ordered the troops to stand down until the next day. MacArthur, however, claiming the Bonus Marchers were attempting to overthrow the U.S. government, ignored Hoover’s order and immediately launched a second charge. By the end of the day, 55 veterans had been injured and 135 arrested. The Aftermath of the Bonus Army Protest In the 1932 presidential election, Franklin D. Roosevelt defeated Hoover by a landslide vote. While Hoover’s militaristic treatment of the Bonus Army veterans may have contributed to his defeat, Roosevelt had also opposed the veterans’ demands during the 1932 campaign. However, when the veterans held a similar protest in May 1933, he provided them with meals and a secure campsite. To address the veterans’ need for jobs, Roosevelt issued an executive order allowing 25,000 veterans to work in the New Deal program’s Civilian Conservation Corps (CCC) without meeting the CCC’s age and marital status requirements. On January 22, 1936, both houses of Congress passed the Adjusted Compensation Payment Act in 1936, appropriating $2 billion for the immediate payment of all World War I veterans’ bonuses. On January 27, President Roosevelt vetoed the bill, but Congress immediately voted to override the veto. Almost four years after they had been driven from Washington by Gen. MacArthur, the Bonus Army veterans finally prevailed. Ultimately, the events of the Bonus Army veterans’ march on Washington contributed to the enactment in 1944 of the GI Bill, which has since assisted thousands of veterans make the often difficult transition to civilian life and in some small way pay back the debt owed to those who risk their lives for their country.

Essay/short answers Essay Example | Topics and Well Written Essays - 750 words

/short answers - Essay Example The war integrates the constitutional and agrarian plebeian’s demands. Marcus Furius Cammillus, the conservative Patrician leader viewed the law as possible concession. The law is initiated towards the end of the 375 BCE anarchy periods. In the period, there were no elected or legitimate chief magistrates at Rome. Several constitutional aspects attempted to address the legitimacy of the chief magistrates, and also ensure more power to the plebeians (Walter 38). The agrarian aspects of the compromise illustrated higher form than substance, and hence were easily evaded. The year immediately after the compromise, saw a plebeian express interest in the consul. Majority of the historians illustrate that this is the initial time plebeians were allowed to work as consuls. The Lucinio-Sextian law also handled the economic demand of the Plebeians. The Consulship opening to Plebeians is the main reason for the 366 BCE concessions that developed both Praetorship and Curule Aedileship, which was open to only the Patricians. The Punic Wars entailed three wars that took place between 264BC and 146BC, from Rome to Carthage. The wars were the largest during that historical period. The main reason for the Punic Wars involved the conflicting interest between the Carthaginian Empire and also the Roman Republic which was expanding at high rates. The main interest of the Romans greatly depended on the expansion through Sicily, which was a strategic cultural melt point. A huge portion of Sicily was under the control of the Carthaginian authorities. The beginning stages of the Punic War illustrated Carthage as the dominant authority in Western Mediterranean, controlling a huge maritime empire. Rome was continuously dominating power in Italy; however, it did not possess the naval power that was illustrated by the Carthage (Bradley 97). During the final stages of the Punic Wars, Rome too effective control of the Carthage Empire, entirely destroyed Carthage

What to Do When the Invisible Hand Stops Working Essay

What to Do When the Invisible Hand Stops Working - Essay Example At a glance, Smith’s invisible hand is known for the market’s regulation of the market (and self-healing too according to Buchanan) and the government’s necessity to intervene in the market.   This was mentioned in passing but was not explained in detail leaving the reading without much clue that compels this paper to elaborate. With regard to the invisible hand of the market, Adam Smith originally meant that the mechanism of the invisible hand is a result of the market settling the distribution of goods and the prices between what the producers want to produce and what the consumers choose freely what to consume.   As a result, producers will have to create goods that are cheaper to produce undermining competition and gain market share.   This competition will ultimately benefit the individual consumer and hence, the greater community as a whole.   On a bigger picture, Adam Smith’s invisible hand may have been the precursor of globalization or the free market.   Perhaps even predated David Ricardo’s idea of Comparative Advantage of trading across economies in suggesting the idea of the freedom of trade as Adam Smith already tackled the dynamics of free trade across economies.   Adam Smith posited that a poor country will naturally have cheap labor and would be willing to work for wages lower than those of their rich counterpart countries.   As a result, the industry will naturally move to these countries as they make more profits by discounting on the labor cost as afforded by the poor country.   As the demand for labor increases, wages will also increase and will result in the higher purchasing power of those mentioned laborers.   As purchasing power increase, these new consumers will create a demand that local industry will have to hire additional labor to cope with the increasing demand for goods.   As this continues, the labor cost of the once poor country will eventually equal those of the host rich country to the point that the advantage of the poor country to provide cheap labor will be lost that it will no longer be advantageous for the rich country to move their factory or industry to the poor country.   In effect, Adam Smith was presupposing that the invisible hand will â€Å"guide† and regulate the market in the most beneficial manner.

How to Compete in India Essay Example for Free

How to Compete in India Essay 1. The political environment in India has proven to be critical to company performance for both PepsiCo and Coca-Cola India. What specific aspects of the political environment have played key roles? Could these effects have been anticipated prior to market entry? If not, could developments in the political arena have been handled better by each company? 2. Timing of entry into the Indian market brought different results for PepsiCo and Coca-Cola India. What benefits or disadvantages accrued as a result of earlier or later market entry? 3. The Indian market is enormous in terms of population and geography. How have the two companies responded to the sheer scale of operations in India in terms of product policies, promotional activities, pricing policies, and distribution arrangements? 4. â€Å"Global localization† (glocalization) is a policy that both companies have implemented successfully. Give examples for each company from the case. 5. How can Pepsi and Coke confront the issues of water use in the manufacture of their products? How can they defuse further boycotts or demonstrations against their products? How effective are activist groups like the one that launched the campaign in California? Should Coke address the group directly or just let the furor subside? 6. Which of the two companies do you think has better long term prospects for success in India? 7. What lessons can each company draw from its Indian experience as it contemplates entry into other Big Emerging Markets? 8. Comment on the decision of both Pepsi and Coke to enter the bottled water market instead of continuing to focus on their core products—carbonated beverages and cola-based drinks in particular.