The central point of capitalism, as expounded by Karl Marx, is that

Assessment: JAMB UTME - Government - 2001 Subject: Government

Question 1 Report

The central point of capitalism, as expounded by Karl Marx, is that
Answer Details
The central point of capitalism, as expounded by Karl Marx, is that capitalist profit is the surplus value obtained from workers' labor. In a capitalist system, the means of production are owned by the capitalists who employ workers to produce goods and services. According to Marx, the value of these goods and services is created by the labor of the workers, but the capitalists extract surplus value from the workers by paying them less than the value they create. This surplus value is the source of profit for the capitalists. Marx believed that this exploitation of workers was inherent to capitalism and would eventually lead to its downfall, as the working class would rise up and overthrow the capitalist class.

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