Views of Marx and J.S.Mills on Accumulation and Crises Essay

Views of Marx and J.S.Mills on Accumulation and Crises - Essay Example Karl Marx In his theory of surplus value, Marx asserts that the working class or the proletariat exchange their labour for wages with the capitalist class or the bourgeoisie. Unlike in slave and feudal societies where goods were produced for consumption, in capitalist economy, commodities are produced for exchange in the market with the value of exchange being money. Since labour is also exchanged for wages, it is also regarded as a commodity and social relations assume mysterious form of relationship between things concealed by a veil of money. The labourers are alienated from the means of production and produce goods for the capitalists which they in turn exchange to get a profit. However, if workers are productive, they produce more than they would have produced in a normal working day but all the profit realised goes to the capitalist as labourers receive only the normal wages. This is what Marx referred as surplus value of labour (Eatwell and Milgate 2011, p. 192). According to Marx, the surplus value in feudal societies is consumed while in capitalist societies, surplus value is reinvested to produce more surplus value. He referred to reinvestment of surplus value as accumulation of capital (Callinicos 2011). However, the motive for accumulation is not greed but a result of social mechanisms which result in competition between many capitals and a capital that does not reinvest itself is pushed out of the market. As observed by Eatwell and Milgate (2011, p. 195) capitalist production involves circuit of capital from money and commodity. The money is used to produce commodity which is then sold for money used to produce more items. However, difficulties may arise when converting commodity to money because money need not be turned immediately to commodity hence sale and purchases are separated. The seller can hoard money if the investment is not yielding enough profits hence breaking the cycle and therefore, the possibility of crisis is inevitable. In the cr isis theory, Marx asserted that the origin of crisis is the systemic elements of capitalism as a mode of production and basic social order (Callinicos, 2011). These factors include: full employment profit squeeze, underconsumption, and tendency of the rate of profit to fall. In feudal societies, a crisis occurs due to underconsumption but in capitalist societies, it is based on the law of tendency of the rate of profit to fall. As xxx observes the tendency of the rate of profit to fall is due to increased labour productivity which makes demands on the constant capital such as machinery or raw materials. As a result, amount of constant capital grows relative to variable capital leading to higher composition of organic capital and consequently low profit. The value of constant capital according to Marx does not depend on original cost of labour time but labour time for reproducing it hence it diminishes as labour productivity grows leading to low profit. In his study, Marx asserts tha t permanent crises does not exist as indicated by Smith and Malthus in their analysis that overproduction leads to permanent reduction in rate of profit. He believes that a crisis is a transitory stage of capital accumulation and therefore short-run effect. In the process of capital accumu

The Future of Cloud Computing Essay Example | Topics and Well Written Essays - 1250 words

The Future of Cloud Computing - Essay Example In this report a discussion will be presented using the concepts provided in the chapter and in the scholarly articles about the increased use and advancements in the computer technologies. This report will analyze all three forms of the discussion and present agreements and disagreements with the authors about the future of these topics. This will reflect an individual understanding about the topic on which an appropriately structured conclusion will be developed. CHAPTER SUMMARY The findings proposed in the chapter show that the use of IT and advancement in the computer technologies require that new methods evolve. For ensuring the safety of the data providing non physical spaces to the users for storing the data have led to such innovations. The developments in mobile computing segments, artificial intelligence and cloud computing are the examples of the developments in the IT industry. These facilities provide safe storage of the data online and make accessibility easier. Associa ted to these advancements are several advantages and disadvantages. The examples of such systems are Google cloud storage, Apple’s cloud, Microsoft’s cloud and other facilities like Dropbox and Amazon. There are four forms of the information clouds namely, 1. Global information/ Internet 2. External information cloud 3. Local information cloud 4. ... The main reasons why users prefer using the cloud facilities are archiving the data in backup, store application data, computing, sharing data and building apps and websites. SCHOLARLY ARTICLE 1: MODELING AND SIMULATION OF CLOUD COMPUTING SOLUTION FOR DISTRIBUTED SPACE DATA STORAGE AND ACCESS IN MOBILE COMMUNICATION NETWORKS Then high bandwidth radio telescopes generate large amounts of digitized data. The challenge associated with this is to provide the ease of access with highest efficiency of the data which is recorded. The main emphasis of the topic is to understand the storage and the retrieval of the space signals. This requires advancement in setting the core technologies and implementing it completely within the cloud computing paradigm. The article is a proposition which suggests cloud computing solutions. Within the distributed space it is required that the data stored can be accessed and at the same time it can become a part of the mobile communication networks. The modeli ng and the simulation results of the processes assist in developing an understanding that the proposed solutions perform satisfactorily in extracting the data from the specified space. The future of this process shows utter reliance on the cloud computing processes for data storage. Verification of the importance of the process and implementation of the process shows its importance in the future (Kurmis, Dzemydiene, Didziokas, & Trokss, 2013). The author of the paper is suggesting that the cloud computing process is acquiring popularity and the ease of access is providing in setting the methods which can enhance the usage. He further suggests the methods which can lead to advancements of the process. SCHOLARLY ARTICLE 2: HEAD IN THE