Human Capital As A Solution To Marx’S Problems With...

Human Capital as a Solution to Marx’s Problems with Capitalism Karl Marx, a German economic philosopher, argues in The Communist Manifesto that a capitalist society allows the bourgeoisie, the owning class, to exploit the proletariat, the working class. Marx rejects the idea that unions are a possible fix for the problems created by capitalism, but does not consider the possibility of increasing human capital to solve the problems he sees with capitalism. By increasing their human capital, the proletariat would gain independence from the bourgeoisie and be able to profit off their labor, and the elimination of private property would become problematic. To begin, I will explain why Marx believes that unions are insufficient solutions†¦show more content†¦Now, I will discuss the strength of Marx’s argument for why the formation of unions is not a strong enough solution to the problem of the bourgeoisie’s exploitation of the proletariat. I agree with Marx that the proposed solution of creating unions would not eliminate the exploitation of the proletariat. Workers would still receive less than the value they create with their labor. The bourgeoisie continues to possess all the power because the proletariat depends on them for their survival. However, it appears that there is another cause for an increase in wages that would be problematic with Marx’s views that the bourgeoisie are exploiting the proletariat and the only solution is to eliminate private property. This factor may be human capital, the skills, knowledge and experiences each person possesses. Throughout his discourse, Marx seems to only consider physical capital and not human capital. When human capital is included in Marx’s arguments, some flaws in Marx’s views are realized. Therefore, I shall explain how the concept of human capital could be problematic to Marx’s views. 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