1. Truyện

  2. Twenty Lectures on Social Sciences.

  3. Chapter 8: The Same Source of Happiness and Misery (The Situation of Social Change Four - The Merits and Demerits of Free Competition).

Other language: Vietnamese

Twenty Lectures on Social Sciences.

Chapter 8: The Same Source of Happiness and Misery (The Situation of Social Change Four - The Merits and Demerits of Free Competition). [9]
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Summary

In a capitalist society, trade regulations from the feudal era, such as guild restrictions on labor supply and pricing, hinder competition and productivity. These regulations limit free market dynamics, preventing craftsmen from capitalizing on innovation and efficiency. As free competition rises, unregulated production leads to overproduction crises, causing labor displacement and economic turmoil. The inherent conflict between labor and capital, driven by profit maximization versus wage demands, exacerbates these issues. Ultimately, while free competition fosters progress, it also reveals the contradictions of capitalism, necessitating a re-evaluation of its production relationships for sustainable growth.

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