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Prior to the industrial revolution feudalism prevailed which was merely a culture administered by the land owners when the upper classes provided land to the common men but they gained from the profit the working class made by adding excise or the collection of their goods or items. Economic capitalism was a budding idea borrowed from the Greeks and Romans who held that powerful men had a right to vend items to expand turnover and to run companies. This initiative was re-launched in Europe at some stage in the Renaissance; however it was being implemented employing feudal methods. The French and American Revolution aided to reinforce capitalism and the conclusion of the grand French conflict was responsible for making England one of the economically strong countries in the human race. (Wheen, 2000)
Developments in science and new technology created the Industrial Revolution. The Industrial Revolution brought along houses and factories for the working class and it shaped an improved market and were responsible for making intelligent and gifted men successful business men who subjugated thousands to become wealthy and rich. (Marx, 2008)
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Marx viewed this emerging capitalism as unjust where the intelligent had power over the poor and fashioned original nobility who made workers got were employed at a job that was humiliating, unrewarding and where they were not compensated a fair remuneration for a better lifestyle. Thus, he set up the scheme of communism where capitalism is shattered as is whichever other kind of discrimination and where the state and all establishments withdraw. Hence the Industrial Revolution apart from giving birth to development, affluence and social equality, also brought communism. (Wheen, 2000)
Marxist theories have apparently gathered criticism from both conformists and liberals and in addition to more temperate socialists and collective democrats. The German Social Democrat Eduard Bernstein required a reconsideration of social independent political approaches, in the late 19th and early 20th centuries, to consider political and developments including the development of the middle classes and his notions were later illustrated and expanded by the pseudo capitalist philosophers of the 1950s and 1960s who disagreed that even if the Marxist theory sketched the mentioned pertinent to the study of 19th Century capitalism it was nonetheless for the most part unrelated to the breakdown of mid 20th Century capitalism which had transformed in guidelines not set forth by Marx into a post-capitalist scheme basically dissimilar form the 19th capitalism as proposed in Marxist theories. (Marx, 2008)