Wednesday, October 6, 2010

Marxism

Being an econ major and a huge supporter of personal fiscal responsibility, Karl Marx's theory isn't very compelling. But that doesn't matter, what do you think? Do you think universal equality is worth the huge economic efficiency dive that will happen if this type of system were to be implemented? Formally put, what are your personal reasons for or against marxism. To start the conversation, I'll address some of my anti-marxist points. Firstly, I'll quote my micro proffessor "If they economic pie is bigger, everyone can have a bigger slice." This is one of the most compelling arguments for capitalism. Since capitalism is SO outstandingly more efficient than marxism, even the lower-middle class has a relatively high standard of living compared to other countries. Secondly, on a purely personal level, I don't want a single even class across the board. Quite frankly, that's insulting. Not to me, or anyone I know, but it's insulting to the geniuses of our time. They make 6+ figures a year because they're worth it. Otherwise no one would pay them so much; basic econ tells us that. Ex: a brain surgeon. Your average brain surgeon makes roughly half a million dollars per year. Yet, they put in 20+ years of work before they are even legally aloud to poke around in someone's head. Honestly, I have no problem with them making that much. The obvious counter-argument is "what about people just making money off money." My answers is: firstly, that's an incredibly small percentage of the population and secondly, it's the same idea as making money off of anything else. You are doing something that someone else wants, and that's investing capital beforehand. So what do you guys think? Are you pro-marx, pro-capitalist, or somewhere in between? And why?

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