Question

Differentiate between indigenous capitalism and Marx’s idea of capitalism. Do we still use marxism in the modern society.

Answer 1

Explanation:

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Answer 2

Differentiate between indigenous capitalism and Marx’s idea of capitalism:

The differentiating key points for the indigenous Capitalism and the Marxist idea of capitalism are as follows,

• The Marxist idea of capitalism revolved around the idea of being ethnocentrism.
• The indigenous capitalism was all about the expropriation of the land with disparity in economy, not seen in Marxism .
• The political and economic study experience were likely to resonate with Marxism but had the creation of elites in polity in indigenous capitalism era.
• There are few references in school of modern thoughts where it is believed to have use of Marxism still today in the modern society in a way.