What are some of Marx’s criticisms of capitalism? How might you respond to these criticisms?
One of Marx’s criticisms of capitalism was that it’s inferior to communism because it exploits wage labor in the sense that workers are only paid enough to survive, rather than being paid in accordance with the value that they create. I would respond to this by saying that in reality, a capitalistic economy is based off of voluntary contract between worker and employer. If the worker is good, and they have high value as an employee, then they will be paid according to that (with the value of their work decided between themselves and the employer). If a good worker is not being paid as they should be, then they have the option to take their services elsewhere and the employer has to make the decision between paying a worse worker the same amount, or keeping his good worker at a higher wage. This is the freedom of competition.
Another criticism of capitalism that Marx made was that the division of labor is wrong, and should be removed from the economy. My response to this is that, in all honesty, it makes no sense. I mean, would you rather have a hundred good workers who are each specialized in a certain field, or a hundred okay workers who can do a hundred different things alright? I certainly would rather have a great doctor do surgery on me than someone who is only a doctor in their down time!