Karl Marx's Surplus Value Theory Remains Relevant

Extract

[...] Karl Marx (1818-1883) is a 19th-century philosopher. For him, capitalism is the act of exchanging one's labor force for a salary; it is the capitalists who own the means of production. He distinguishes three forms of capitalism: merchant capitalism (scientific innovations, the role of banks, i.e., new forms of capital), manufacturing capitalism (transition from feudal production to craft labor with ownership of the means of production), and industrial capitalism (transition from craftsmanship to worker with the emergence of surplus value). [...]

[...] Can we ask ourselves: did Marx have reason to believe in the imminent self-destruction of capitalism? Will it ever arrive? What will be the consequences? global poverty, strong inequalities, the rise of unemployment) will they be as he described them? [...]

[...] However, it is almost impossible for us to live without capitalism, we are in a capitalist society. Without capitalism, the economy, global trade, and globalization would not be possible. The rise of unions and the law tries to promote fair working conditions for workers. Unfortunately, in developing countries, these notions are outdated. Marx saw in communism a form of hope and solution to combat these inequalities, but it is clear that in history this party has not always been unanimous. [...]

[...] He had anticipated the harmful side that it would have on the current world. Unfortunately, companies are in perpetual search for profit, in all forms, of capital or productivity, regardless of the harm it causes to human rights. There are three forms of surplus value still existing today, these are still terms that we use. Marx had well understood, the three types of surplus value are the very description of the functioning of a company. Since the Second World War, with the various economic crises, trade unions began to emerge. [...]

[...] This is what is called overproduction. This phenomenon of overproduction will lead to deplorable working conditions for the workers who work in these factories. In fact, the low wage, constant surveillance, and especially inhumane working conditions will lead workers to potentially fall into depression or even commit suicide. Let's take the example of China, the company Apple (which outsources most of its production abroad and especially in Asia) will subcontract Chinese companies where labor is much cheaper than in the United States for example (where Apple's headquarters is located). [...]