Essay-Marxism

Applying Marxist Concepts to Contemporary Political and Social Issues Student’s Name Institutional Affiliation Course Professor Date Applying Marxist Concepts to Contemporary Political and Social Issues Marxism, a social, economic, and political ideology, posits that the struggle between social classes, particularly the bourgeoisie, or the capitalist, and the working class, or workers, emphasizes the economic relationships in a capitalist economy. This theory is the most crucial model and ideology that has paid much to the contemporary world. Karl Marx and Friedrich Engels facilitated the working-class inquiry into the prejudices imposed upon them through various aspects, such as wages, oppression, and lifestyle. Individuals believe that Marxism is the start of advancement and growth. Marx supposed that imparting his philosophy in the minds of individuals like him might sometimes make the world an ideal free society. By analyzing the structures of society via the Marxist lens, this essay explores three specific issues: healthcare, minimum wage, and global warming. It also demonstrates how Marxism offers a valuable understanding of the underlying causes of such problems. Summary of Contemporary Political and Social Conditions, Conflicts, or Problems Minimum Wage Individuals understand minimum wage as the compensation an employer needs to pay workers for the work performed throughout a given period. A shared agreement or an individual contract cannot reduce this amount. Minimum wage laws differ across countries and regions, with each jurisdiction setting its standards for minimum compensation employers must pay their employees (Harvey, 2021). Many nations periodically review the minimum wage rates and adjust them to keep pace with various issues, such as the changing economic conditions and inflation. However, the capability of such rates mostly results in discussions, with supporters conflicting for higher wages to ensure fair remuneration for employees. In contrast, challengers express concerns about the possible adverse effects on employment and business viability. In the U.S., the Fair Labor Standards Act provides individuals with the right to minimum wage. These rights are enforced by the Department of Labor’s Wage and Hour Division. The federal minimum wage is $7.24 per hour, which often applies to covered nonexempt employees. Employees who receive tips have a minimum wage of $2.13 per hour (Reich, 2021). However, state and cities set their minimum wage rates with different minimum wages for workers who receive tips. Moreover, disparities exist between diverse sectors and industries, complicating the context of minimum wage regulations. Political contentions cause such challenges with discussions emphasizing appropriate minimum wage levels. This minimum wage has various implications for society, surpassing the immediate effect on employees’ paychecks and shaping more significant economic and social dynamics. For instance, minimum wage helps address the issue of income inequality by ensuring that low-wage employees get basic compensation for their services. However, the consistency of minimum wage rates in decreasing income inequalities remains an issue of discussion in modern days (Harvey, 2021). Moreover, the minimum wage has a favorable implication for society by ensuring social cohesion. Fair and reasonable minimum wage laws improve social cohesion by nurturing a sense of economic impartiality and unity among employees. Healthcare Healthcare system varies across nations, with distinct delivery, governance, and financing models. However, they can be categorized explicitly into single-payer, multi-payer, and National Health Insurance systems. A single-payer system, a single-payer gathers all healthcare fees and caters for all healthcare care expenses. Nations such as the UK and Canada have utilized this system in their healthcare organizations, where the government is the primary payer for healthcare services. In a multi-payer system, various funding sources are utilized, such as private insurance, out-of-pocket pay, and government programs. The U.S. healthcare system reflects a system ...