Even a brief glance at a major newspaper reveals a wide range of social problems. Then locate an article from The New York Times. The article must be dated after August 1, 2013. Attach a copy of the article to your hard copy submission. How would Marx analyze the information contained in the article. .
The huge capital market system increased globalization and created a bourgeois population at its center. In addition, industry began to expand rapidly. Beginning in the 2000s, an economic crisis occurred due to the collapse of the US mortgage market and due to the bankruptcy of banks around the world. Many countries in the world still face an economic recession due to the impact of this period. This economic recession produced high rates of unemployment and poverty. Marx in his article anticipated that capitalism creates this type of economic crisis which also creates further social problems. .
In the article "A Promise to Protect Pension Will Test Greece's Red Line on Austerity," it's explained that Greece is currently suffering the social problems of tax increases, pension cuts, and unemployment. Also, the country has financial debts it owes to the IMF. Marx in the Communist Manifesto argues that capitalism can collapse economic systems and create an economic crisis. Marx explains that the "bourgeoisie surmount these crises by finding new markets to exploit and by increasing their exploitation of existing markets" (Boyer 1998:153). Marx sees that this crisis is based on overproduction due to industrial development, which also collapses the social structure in what is known as "business cycles" (Boyer 1998:153). Like Marx argues, due to the economic recession, the government of Greece increased bailout programs and tax programs to keep their political power and to hide economic and political errors. Tax increases are one solution but put a huge burden on the people of Greece.