Crisis Theory According to Marx, Term Paper

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There is no distinction between products that are exchanged to fill actual needs and those created to fulfill desires. This disregard for the true dynamic of capitalism creates the false perception that no crises can result. Marx however holds that the apologetics are vocal only in times of prosperity, while they are conspicuously silent during times when crises do ensue.

The most prominent related debate around globalization today revolves around the benefits (or lack thereof) of free market principles. Many hold that the free market system is beneficial for all participants, while others believe that the system perpetuates the poverty of third-world countries attempting to participate in the world market. At the same time, the richest countries become ever richer as a result.

The type of denial of the possibility of increasing poverty is reminiscent of the apologetic denial of crisis.

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Poverty is increased in poor countries by denying them the right to compete with foreign markets by heavily subsidizing farmers from rich countries. These subsidies enable farmers from prosperous countries to trade their goods at a lower price than those from developing countries, whose governments are not allowed to provide subsidies.

The tragedy is that, while the global market place has the possibility to reduce and eventually eradicate poverty altogether, prosperous countries and their refusal to adhere to their own policies perpetuate the phenomenon. Whereas capitalism however had little to offer in terms of reducing world poverty apart from the apologetic denial of crisis, world trade has the potential to do something concrete in favor of developing countries.

The policy relating to world trade should however be applied with greater efficiency and honesty in order to have a true effect......

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