Historical Materialism
Marx’s historical materialism is one of the pillars of his theoretical framework. In his works, especially in “The Communist Manifesto” and “The German Ideology,” Marx notes that the economic foundation of society – involving the ways societal production is carried out and who interacts with whom within networks of those processes relations of production—greatly influences another element ‘superstructure’ comprising political institutions; legal systems; ideologies believed by people to For Marx, historical development is not random but has a clear shape dictated by changes in the material circumstances of production. In “The Communist Manifesto”, this is captured well by Marx and Engels, “These two phrases contain the essential nucleus of historical materialism, namely that social Being breeds Gulf Between Men which proves to be carried forward with all its dynasties into new ones(Garner & Hancock, 2014, pp. 84-86). This forms a struggle between different groups.”
Labor Theory of Value
Another key idea that features heavily in the oeuvre of Marx is his labour theory, which he explains in detail in one of his most influential books titled “Capital”.Herein, Marx also proposes asserting that a commodity’s value only comes from how much labour time it takes to produce socially necessary. They challenge the capitalist concept that prices are determined by market forces alone. In “The Fetishism of Commodities and the Secret Therefore,” Marx writes about how commodities obtain a mystified character in capitalist societies, hiding the social relations integral to their production. Marx’s critique of exploitation is emphasized by the labour theory of value, which claims capitalists profit from the surplus value derived from labour. This idea becomes the foundation for studying how exploitation and accumulation of wealth function in capitalist economies (Garner & Hancock, 2014, pp. 110-112).
Alienation
In the work titled “Estranged Labour” from “The Economic and Philosophic Manuscripts,” Marx’s analysis of alienation reaches deep into people’s sense of Indonesia, a Southeast Asian country. Marx identifies four types of alienation: alienation from the product of labour, labour process, human species-being and other people. This realization stems from the commodification of labour in capitalist production, where workers lose control over the material results of their labour and become alienated from the very essence they are. Alienation has a dehumanizing effect on many occupations that are repetitive and monotonous, whereby the worker may develop into just rather an appendage of some production construction. The analysis of alienation by Marx is a powerful critique of the inhuman nature of capitalist organizations that undermine every individual (Garner & Hancock, 2014, pp. 100-106).
Application to Modern American Capitalism
Historical Materialism in Modern American Capitalism
Using Marx’s idea of historical materialism to analyze modern American capitalism reveals several illuminating views on its traits and mechanisms. Certainly, the capitalist path of development in such a big country as the United States can only be depicted with class struggles from labour movements, at least since the late 19th century up to contemporary discussions about income inequality (Garner & Hancock, 2014). For instance, the Occupy Wall Street movement in 2011 is a modern incarnation of class consciousness reflecting Marx’s belief that there are inherent conflicts between classes. Furthermore, economic structures play an important role in political and legal systems through lobbying activities that influence policies that benefit the interests of corporations (Veltmeyer & Wise, 2018). By analyzing the evolution of capitalism in the U.S., based on Marx’s historical materialism, social class relationships and their effects on societal formations can be identified through critical examination.
Labor Theory of Value and Exploitation in Modern American Capitalism.
Marx’s critique of capitalism was based on the value of labour theory, which is particularly relevant when analyzing the contemporary American capitalist economy. The widening wealth gap in the U.S. provides evidence for exploitation and concentration on the accumulation of riches. According to reliable sources such as the Economic Policy Institute and The World Inequality Database, income inequality in the U.S. has increased significantly over the past few decades. High CEO remuneration contrasted with the average worker’s earnings and falling real wages for many people is consistent with Marx’s argument about surplus value extraction from labour. Instances of corporate practices placing profits over matters concerning the well-being of their workers, such as anti-union activities and temporary employment, can be linked with Marx’s concepts on how capitalism naturally ends up in the exploitation or abuse of its labouring class (Gould, 2020).
Alienation and the Dehumanizing Aspects of Modern American Capitalism
Marx’s concept of alienation can be used like a magnifying glass to inspect the inhuman capacities of modern American capitalism. In modern workplaces, particularly in sectors marked by traditional and standardized activities, labourers tend to be alienated from the fruits of their labour and the nature of labour itself (Garner & Hancock, 2014). The gig economy, best represented by Uber and Amazon, is an extreme absurdity of alienation where workers are considered commodified objects used to maximize profits. Also, the pervasive consumerism in American society contributes to alienation from the human species because individuals shaped into consumers become driven by material acquisition rather than their basic human needs. Utilizing Marx’s alienation framework, it is possible to observe how this tendency of alienation manifests itself in different components or aspects within modern American capitalism (Harvey & Conyers, 2016).
In conclusion, the sources of evidence broached through historical developments, economic data and the phenomena that occur today align with Marx’s analytical comprehension; his critique has continued to help make sense of capitalist societies.
References
Garner, R. & Hancock, B. H. (2014). Social theory a reader: Continuity and confrontation (3rd ed.). University of Toronto Press.
Gould, E. (2020, February 20). State of Working America Wages 2019: A story of slow, uneven, and unequal wage growth over the last 40 years. Economic Policy Institute. https://www.epi.org/publication/swa-wages-2019/
Harvey, P., & Conyers, L. (2016). The Human Cost of Welfare: How the System Hurts the People It is Supposed to Help. ABC-CLIO.
Veltmeyer, H., & Wise, R. D. (2018). Critical Development Studies. In practicalactionpublishing.com. PRACTICAL ACTION PUBLISHING. https://practicalactionpublishing.com/pdf/book/422/critical-development-studies.pdf
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