Why did Karl Marx criticize capitalism? Describe how he planned to correct those shortcomings
What will be an ideal response?
Ans: Marx criticized capitalism because he thought that the wages earned by majority of workers in a capitalist society would be forced down to subsistence levels. Marx also thought that capitalism was a historical stage and would stagnate because of internal contradictions and followed by socialism. Marx advocated for state ownership of basic means of production, distribution and exchange. He thought that workers could be fully compensated for labor and the benefit to society would be greater rather than individual capitalists.
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