This essay should begin with a separate paragraph long abstract summarizing the argument. Engels writes, under industrial capitalism, “Production has become a social act. Exchange and appropriation continue to be individual acts, the acts of individuals. The social product is appropriated by the individual capitalist. Fundamental contradiction, whence arise all the contradictions in which our present-day society moves, and which modern industry brings to light.” (Engels p. 638) A. Explain what Marx and Engels see as the “fundamental contradiction” of the capitalist mode of production. B. What are the consequences of this for Marx and Engels? Make sure you discuss (1) The economic crisis cycle, (2) The human consequences, and (3) Their model of transition to a new mode of production. C. How might other theorists criticize Marx and Engels explanation of capitalisms’ contradictions and results?
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