Chapter 2, Problem 19AA

To determine

To analyze the agent that will control the means of production in the economy according to K Marx.

Explanation of Solution

Marx argued that capitalist power was fundamentally exploitative and would ultimately create class conflict. In the end, he assumed that this struggle would lead to a revolution in which the working class would overthrow the capitalist system and take control of the economy.According to Marx, every society is divided into several social classes, the members of which have more in common with each other than members of other classes.The society was composed of two classes in a capitalist system, the business owners who control the means of production and the workers whose labor transforms raw materials into valuable consumer goods. The ownership of the means of production by the business classes gives them leverage over the laborers, thereby allowing them to restrict the ability of the workers to produce and receive what they need to survive.

Thus, K Marx believed that the means of production in an economy is controlled by the business owner.