"" What sounds better to you? Being to work, or being to work? Choosing an employer based on pay and benefits, or being forcibly conscripted into an "industrial army?" The phrase "obligation to work" sounds better than "being forced to work by threat of punishment", but without the possibility of positive incentive, it means the same thing. Marx would take away your freedom to choose not to work. Suppose you decide that you would rather move to a small cabin up north, live largely off the land, and do just a little bit of occasional work for spending money? In a capitalist society, you would be forced to adopt an austere lifestyle, but no one would stop you. But Karl Marx would accuse you of not pulling your weight, and you would be to go work the same way as everyone else.
However, even if the labourtheory of value is considered discredited, there are elements of his theory that remain ofworth. The Cambridge economist Joan Robinson, in An Essay onMarxian Economics, picked out two aspects of particularnote. First, Marx’s refusal to accept that capitalism involves aharmony of interests between worker and capitalist, replacing thiswith a class based analysis of the worker’s struggle for better wagesand conditions of work, versus the capitalist’s drive for ever greaterprofits. Second, Marx’s denial that there is any long-run tendency toequilibrium in the market, and his descriptions of mechanisms whichunderlie the trade-cycle of boom and bust. Both provide a salutarycorrective to aspects of orthodox economic theory.
Marx’s Critique of Socialist Labor-Money Schemes and …
"" This is really just a repetition of his earlier attempt to pretend that society is polarized into those who work and those who live off their money. Now, I don't mean to suggest that our society, either in its current state or in Karl Marx's time, is ideal. However, his artificial polarization was an inaccurate description of events in the 19th century, and his writings proved an inaccurate prediction of events in the 20th century. Events have shown that a free-market system offer great opportunity for those with ambition and intelligence, contrary to what Karl Marx predicted. Professionals with valuable skills work for their wages, but it's not a prison; they also invest in things like houses and retirement funds, and most of them will eventually retire on those investments. Moreover, those who would defend him by saying that he couldn't have known about future events would be well advised to consider the fact that all of these objections were also raised . Clearly, his detractors knew something that he didn't.