Free Market Capitalism And The Current Economic Situation

IntroductionA present essay seeks to address the issue of accepted global economic downturn in light of classic , peculiar(prenominal) and modern economic thought Using the insights produced by thinkers as diverse as Keynes , Lenin Marx , Rousseau etc . the following questions are discussed : the interrelation amidst crisis and the dynamics of global capitalist economy interaction of supply and film on the global scale , income inequalities between central and circumferential states and factors contributing to the further mitigation of economic contractionsThe nature of stream crisisThere is no denying the importance of the fact that the current crisis expirationed from the contradictions intrinsic to capitalism as a mode of production . Karl Marx was the first to explicitly reveal those contradictions , which inevitably c onclusion in cyclic crisis of overproduction (Marx 346-367 . He discovered the law of a surplus pit that is the source of profit and wealth , which is squeezed from the labor force by capitalists .

Extracting surplus value leads to the revolutionizing of production and technology , however , it as well as results in income inequalities between dominant and dominated strata of society (Marx 318 . what is more , as the norm of profit decreases , capitalists tend to diversify their coin from production to financial sector : credit speculation , which results in economic instability and cyclic crisis Overproduction was also characterized by Marx as not the reason , but a result of intr insic contradictions within capitalist mode ! of production It is partially caused by the uncontrolled rush for profits , which however ignores sincere purchase abilities of population and supply-demand interrelation...If you want to get a wide-cut essay, order it on our website: OrderEssay.net

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