1-2 pages (single spaced) essay

summarize the main points of Karl Marx and his critics of capitalism.

1. In the Communist Manifesto, Marx claimed that "the history of all hitherto existing society is the history of class struggles." What are the two principal classes in a capitalist economy, according to Karl Marx?

2. The book (8th ed) mentioned that the U.S. workers have experienced more than "four decades of stagnant wages" (p.64). What could be a Marxist explanation for this phenomenon?

3. What is neoliberalism? Why did the business support this theory? Remember to look at the photos / boxes you took from my textbook.

4. What motivates managers / owners in a capitalist production? What motivates the wage-earning workers / proletariat?

5. What is surplus value? What are five different ways to maximize surplus value?

6. What is industrial reserve army? What is the size of the global surplus work force?

7. What is the moral standing of the capitalism in Marx's view?

8. Are you convinced of the Marxist argument? If not, what could be some of your objections?

9. In a globalized world, how could Adam Smith's chart of invention and imitation fail to improve workers' living standards?