Marxism Politcial Economy Essay -- Economics Marx

According to Marxist political economy, exploitation is the key factor which underpins the re entirely(a)y fundamentals of society. By this Marxists believe exploitation is more than simply an economic phenomenon, but or else a norm created through false consciousness, which has infested itself within all aspects of society stretching from the state, to the very structure of the social system.Marx stress on exploitation lies in his belief that the value of a commodity is purely derived from the collect labour expended to produce such a good. Although the labour possible action of value was originally contemplated by Classical Economist such as Smith/Ricardo the emphasis for Marx was on labour as a value rather than simply a cost in the production process. As Dooley explains Marx maintained that labour was the touch on value creating substance (Dooley 2005) and this point is further developed by Sayer who states that the fundamental distinguishing characteristic of Marxism is the existence of labour-power as a commodity. (Sayer 1979). For Marx labour was the source of all wealth in society, which would ultimately be transformed by the bourgeoisie into surplus value and profit through numerous industrial policies such as specialisation through division of labour. Capitalism is a system that encourages alienation of the worker as the commodities produced are not produced for need or desire, but instead in the pursuit of profit. Its from this concept that exploitation can be explained. Marx defined exploitation as the surplus value extracted from the labour force in order to generate profit. This would be achieved through paying wages lower than the value of the commodity produced. Such a theory remains evident in the n... ...Economy. London International Publishers. 19 - 23. Marx, K and Engels, F (2002). The Communist Manifesto. 3rd ed. London Penguin. 219. Marx, K and Engels, F (2002). The Communist Manifesto. 3rd ed. London Penguin. 258. Powell , B and Skarbek, D. (2004). Sweatshops and threesome World Living Standards. The Independent Institute. 53 (1), 6, 10. Sayer, Derek (1979). Marxs Method Ideology, Science & Critque in Capital. 2nd ed. Brighton The Harvester Press Limited. 44-45. Sumner Colin (1979). Reading Ideologies an investigation in to the Marxist theory of ideology and law. London Academic Press Inc. 44.Woodley, Daniel (2009). Political Ideologies. Spain p43. Woodley, Daniel (2009). Political Ideologies. Spain p42http//news.bbc.co.uk/1/hi/business/7242492.stm (2008)http//www.indexmundi.com/bangladesh/gdp_real_growth_rate.html