It is unambiguous that the Australian economy is in an enviable state. All the key parameters—inflation, unemployment, growth—are more or less where we want them. However, where Australia falls away from being a world leader is in the often forgotten measurement of underemployment.
This article aims to provide a brief explanation of some of the key fallacies that Karl Marx observed as inherent in capitalism. The motivation to write this piece was not to endorse the subject matter, but was rather born from a proclivity to explore influential ideas. Before the concepts are presented, there are two important points to be made.