If Western countries want to disprove the dire forecasts of Karl Marx, we must think creatively about how to make the middle class more prosperous and secure
Capitalism is arguably the economic system that has created opportunity for millions, created the greatest wealth of any economic system devised, created the largest middle class ever known to humankind, and improved the quality of life for millions. Even Karl Marx acknowledged that capitalism was the most productive and best economic force (system)designed up his time in history.
Marx also realized that unless the power of capitalism was harnessed and driven to provide growth, security, and benefits for the society as a whole (think successful and growing middle class)at some point in the history of capitalism it would collapse, a result of its own blindness. In other words if capitalism was driven by greed, its focus being to create enormous wealth for the benefit of a miniscule percentage of society, while keeping wages and benefits for everyone else as small as possible, eventually the social and economic upheaval would result in the collapse of capitalism.
Those who are capable of, and willing to move beyond the paradigms they have accepted for years about capitalism, including the false claims of trickle down economic theory, (actually where I was at for some time), and expand their thought process as Marx was able to do in the mid to late 1800's they will see the danger inherent in capitalism because of human motivations and their accompanying behaviors.
The following article was printed in The Wall Street Journal. It is timely and touches on many valid points.
For capitalism to remain a force for growth and wealth creation it must also provide economic opportunity that leads to eventual security that insures social stability for a much larger segment of the population. Really, the health of capitalism depends on a thriving middle class.
Article BELOW THE FOLD.