Management in Society - Karl Marx Essay Example | Topics and Well Written Essays - 1000 words

Management in Society - Karl Marx - Essay ExampleThis no doubt increased the take in domestic output of Great Britain, but in the absence of any genuinely effective governmental regulation and control and with industrial production low free enterprise economy just beginning to take a concrete shape, the lot of the workers went from bad to worse.It was under these circumstances that Karl Marx propounded his theories of social exploitation of aim and economic injustice. Marx concluded that private self-possession of means of production and insatiable greed of factory owners to earn more profit were the primary reasons for this abysmal consideration of workers. He exhorted the workers to unite and forcibly seize political power so that all means of production can be removed from private ownership and transferred to the ownership of state thereby ending undue exploitation of workers by the greedy owners of factories. Marx at this stage committed two grave errors if one may say so.H e did not denigrate capitalist means of production as much(prenominal) and admitted that this form of production did indeed create surplus foster but what was essentially a problem of misdistribution of this surplus value was wrongly described by him as an inherent flaw of the production system. He in like manner failed to comprehend the basic fact that this surplus value was created by the production system as such that included all three factors of production land, fag out and capital. He, one might dare say, rather obstinately held on to his belief that the surplus value was created by labour alone and thus the right to such surplus belonged only to labour. However, the unscrupulous and rapacious capitalists usurped the entire surplus for themselves while paying the labourers only slave-wages that were just enough for them to survive. Thus, he felt that the only right smart for improving the lot of workers is to overthrow capitalism.Karl Marx thought that abolition of priva te property would