How Did Karl Marx Characterize Capitalism

The values that characterize a Centrally Planned Economy greatly opposes the beliefs of a Free Market Economy, therefore making the economic system to ultimately reflect principles of liberalism to a limited extent. A Planned Economy is founded off the belief that individual’s need economic guidance, instituted by the government’s decisions, to as a result provide for more efficient use of resources. Specifically, Karl Marx believed that a Capitalist system led individuals to become ultimately selfish due to an increase nature of greed, in which private property helped promote. Marx’s philosophy of Capitalism was supported by the drastically increasing economic and social inequality that was present during the Industrial Revolution. However,