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Socialism and Communism

Socialist views of capitalism

  • 3 things to know
  • A2 Unit 3

Overview

Four forms of alienation Marx described, reserve army of labour and market socialism.

What you need to know

Answer each one before you reveal it.

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Key term

Define capitalism.

Key term

Why do socialists say capitalism is exploitative?

Key term

Name the four forms of alienation Marx described.

Questions from this subtopic

Each one with the model answer underneath.

  1. 1

    Define capitalism.

    Model answer

    An economic system in which productive property is privately owned, goods are produced for sale at a profit and most people work for wages.

  2. 2

    Why do socialists say capitalism is exploitative?

    Model answer

    Workers produce more value than they are paid, and the difference is retained by those who own the enterprise rather than by those who created it.

  3. 3

    Name the four forms of alienation Marx described.

    Model answer

    Alienation from the product of labour, from the act of working, from other people and from human nature itself.

  4. 4

    Why do socialists regard capitalist inequality as structural rather than accidental?

    Model answer

    Because wealth accrues to those who already own productive assets, so advantage compounds and is passed on rather than arising anew each generation.

  5. 5

    What do socialists mean by the instability of capitalism?

    Model answer

    Its recurring cycles of boom and slump impose unemployment and insecurity on workers who had no part in causing them.

  6. 6

    Define commodification.

    Model answer

    The turning of things not previously bought and sold, such as care, housing or education, into goods traded for profit.

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