The biggest foundational flaw in communism and socialism is that they place the interest of the state, and of groups they like, above the interests of individuals.
That stifles and suppresses individual initiative which is why communism and socialism have ALWAYS eventually failed wherever they have been tried.
Marx's writing is complex, but in his view here are the reasons capitalism would fail:
1) Inevitability of monopolies, which can then gouge consumers
2) Lack of centrally-coordinated planning, which results in overproduction of some goods and underproduction of others (creates crises such as depressions, could also be described as 'boom and bust')
3) The profit motive will push employers to try and save on labor cost by automating work which will increase unemployment and create a hostile proletariat
4) At some point, "over-automation" of labor will create a market where workers will not have enough money to purchase the result of the labor, creating a contradiction in the profit motive
5) Capitalism relies on a state that creates and enforces laws that protect the ownership class and favors them, breeding resentment among the working class
"Scientific socialism" is used to differentiate from "utopian socialism".
Answers & Comments
The biggest foundational flaw in communism and socialism is that they place the interest of the state, and of groups they like, above the interests of individuals.
That stifles and suppresses individual initiative which is why communism and socialism have ALWAYS eventually failed wherever they have been tried.
Marx's writing is complex, but in his view here are the reasons capitalism would fail:
1) Inevitability of monopolies, which can then gouge consumers
2) Lack of centrally-coordinated planning, which results in overproduction of some goods and underproduction of others (creates crises such as depressions, could also be described as 'boom and bust')
3) The profit motive will push employers to try and save on labor cost by automating work which will increase unemployment and create a hostile proletariat
4) At some point, "over-automation" of labor will create a market where workers will not have enough money to purchase the result of the labor, creating a contradiction in the profit motive
5) Capitalism relies on a state that creates and enforces laws that protect the ownership class and favors them, breeding resentment among the working class
"Scientific socialism" is used to differentiate from "utopian socialism".
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