Capitalism can cause poverty because it is all the trade industry controlled by private owners rather than the state. Communism can cause poverty Communism is a more efficient way of handling economics in todayʻs society. Each individual works at their own pace, length and strength of labor, thus earning their (what should be) fair wage. To earn the same as another for a different type of work is unfair. Capitalism only doesn’t work when goods aren’t traded in for money or value. Capitalism can cause poverty because it is all the trade industry controlled by private owners rather than the state. The labor theory of value, decreasing rates of profit, and increasing concentration of wealth are key components of Marx's economic thought. His comprehensive treatment of capitalism stands in stark contrast, however, to his treatment of socialism and communism, which Marx handled only superficially.
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February 2019
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