Did Karl Marx Really Know What He Was Talking About? By Ivan Kramer for American Thinker
Three of the most successful American entrepreneurs in recent history are Steve Jobs, Bill Gates, and Elon Musk. All three of these brilliant entrepreneurs invested money to make more money, the primary principle of capitalism, and revolutionized the computer and electric car industries. In addition to making fortunes for themselves, these heroes created thousands of jobs and significantly increased wealth around the world.
In 1977 at the age of only 22 years old Steve Jobs along with Stephen Wozniak created Apple Computer by investing their own savings to produce the personal computer Wozniak designed, the Apple II. The product was a great financial success and, step by step, creating irresistible product after irresistible product, Jobs guided Apple into ultimately acquiring today’s market capitalization of over $2 trillion!
Foxconn, a Taiwanese company, actually builds the iPhone for Apple at Foxconn’s Zhengzhou city plant in Henan province, one of China’s poorest provinces. Foxconn provides entry-level jobs for as many as 350,000 poor Chinese youths, primarily 16-29 years of age, from the surrounding farms who have limited alternatives and are glad to be hired.
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Although Karl Marx (1818-1883) lived in England during its era of exponential growth in wealth, being a communist, he hated the entrepreneurs (capitalists) and “Jewish usurers” who were responsible for this growth.
In Marx’s view, a company’s profits should belong to the workers who assemble its products. This would mean, for example, that all of Apple’s profits from the iPhone should belong to the entry-level Foxconn workers who assemble it. To Marx, it would be irrelevant that these workers have no idea how the iPhone works, did not and could not design it, and did not invest any money to produce it. If a country decided to implement Marxist economics, its entrepreneurs would stop investing wealth to produce more wealth, and the country would become poorer. In fact, Marxism is incompatible with the human desire for economic freedom and has been thoroughly debunked.
