Does the crisis of capitalism prove that marx was right after all? first 150 words.

The catastrophic predicament of Capitalism right now does not prove Marx was right. The crisis of Capitalism just shows mankind that the system of capitalism has not yet been perfected. In fact this current financial crisis owes more to “laissez faire” regulation than to an inevitable “bust”. Capitalism may manifest itself in many “booms and busts” but from every “boom” and every “bust” we learn from our economic misdemeanours. Marxist theory may result in slow and steady economic growth without these often-traumatic recessions, but at what expense? Slow economic growth, lack of economic and sometimes political freedom, measly chances for economic self-advancement, mediocre living standards, forced collectivisation and government corruption. This is the ugly truth of Marxism and its various offshoots.

Both ideologies have polarised economic ideas on the one hand there is capitalism advocating private ownership as a means of producing wealth, rather than state or public ownership. In addition to advocating a less stringent regulatory system and encouraging entrepreneurship.