Reading commentary assignment Essay Example | Topics and Well Written Essays - 750 words

Reading commentary assignment - Essay Example At another level, the authors treatment of the contemporary issues of labor by conventional philosophy, and the rise of military-industrial intricate offer new insights by being clearly related to the periods of old capitalist vibrancy. On a closer analysis, it is particularly important to examine how Marx’s critiques had been anticipated in diverse ways by some of the founding fathers of economics, who were in the preference of a capitalist approach to economics; however, a critical and contemporary analysis for â€Å"A Critical Perspective† is not adequately critical especially when it comes to analyzing his arguments on Marxism and socialism, though their approach to â€Å"Economic Thought† is still appreciable given the fact that their analysis are based on range of disciplines related to Economics. (Hunt and Lautzenheise) In chapter nine, Hunt and Lautzenheiser looks critically into the contemporary subject of Marxism economics and how his arguments sought to define the modern economic viewpoints. He adopts a theoretical view point that advocates for a socialist system and differs with the capitalists on wide range of economic principles. These classical approaches to viewing economic institutions have been largely considered as pre-templates for industrial revolution. Though Marx by nature was a product of the Western economics, his contributions that combined classical German Economics and scientific technology brought to the fore a new force in viewing economic systems leading up to the Industrial Revolution. Hunt and Lautzenheiser re-affirms that the radical viewpoints as pioneered by Marx represent Marx’s interpretation of historical events and his due prediction of what was to be later a struggle between employees and management. At the same time, Hunt Lautzenheiser concurs that Marxism theories provided