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  • Essay / Does Capitalism Have a Future Summary - 2006

    It states that the increasing cost of wages and capital also limits capitalist systems as more and more unions and international organizations demand that rights workers are respected. Likewise, taxation is becoming more and more problematic for both individuals and investors. Finally, environmental consciousness is increasing among contemporary social movements and concerns about global warming prevent capitalists from expanding their work. Wallerstein's theory is, in its essence, very Marxist. This does not necessarily suggest that capitalism is bad; it simply predicts that at some point this system will face a crisis. This theory does not necessarily predict that capitalism as a mode of production is likely to survive the crisis, although it may be profoundly weakened by it. Marxist theory explains the potential crisis by announcing the weakness of the capitalist system and asserting that only with a revolutionary movement of a united working class can capitalism be restored.