What marx means by given statement

Reference no: EM131013918

Marx had once stated that under capitalism the threat of the Monseigneur's (feudal lord or slave master) whip is replaced by ‘the threat of the sack (unemployment)'. Briefly explain (350-500 words) what Marx means by this statement?

[Hint: how one of the reasons for the success of capitalism (as compared to command and tradition based systems) is that it replaces visible coercion with invisible coercion]

Reference no: EM131013918

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