Immiseration of the Proletariat: How Capitalism Fails the Working Class #shorts

The immiseration of the proletariat is a concept in Marxist theory that refers to the worsening conditions of the working class under capitalism. As capitalists seek to maximize profits, they drive down wages and cut costs, leading to a decline in living standards for workers. This can result in poverty, unemployment, and increased inequality. The immiseration of the proletariat is a fundamental critique of capitalism and highlights the need for a more equitable economic system.

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--- About Capitalism 101 ---
Exploring the complexities of capitalism and providing insights into this intricate economic system. There is no one definitive answer to understanding capitalism, but rather that it requires a continuous process of learning and exploration. This channel is here to help you deepen your understanding of capitalism and navigate the ever-changing landscape of the market. Join and delve into the nuances of capitalism and discover new perspectives along the way.

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#immiseration #proletariat #marxism #capitalism #workingclass #inequality #poverty #exploitation #change #economicjustice #critique

[WanderingExistence]

Wage labor is renting yourself via "self ownership". Employment is literally renting another human being as if they're property. The employer-employee relationship is a very insidious dynamic. Employment is a rental contract, like if you rented capital (say, a chainsaw from Home Depot), you pay rent for the "time preference" (basically the cost of time) for a piece of property. Capitalism is based on a principle of self ownership, which sounds empowering, until you realize that most people don't own capital goods other than themselves, and must rent out the authority over themselves as pieces of "human capital". This is a process of dehumanization where human beings are valued for their return on investment as capital goods. This is why, at the very least, capitalism needs unions and safety nets (or abolishment), or else the system won't value people for their human value. Importantly we must also think about our sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class to value. We must figure out a way to change this economic system if we wish to value each other.