1. Marx was a serious critic of capitalism.Two of the major problems he identified were found in the exploitation of labour and the tendency of capitalism to lurch from crisis to crisis.

Explain why capitalism is premised on the exploitation of labour.How does the exploitation of labour contribute to the regular crisis of capitalist economies?Do you agree with Marx, is the capitalist system hopelessly flawed or can reforms be made to limit the exploitation of labour and prevent regular economic crisis?