Theories exist to refine our ideas and the conflicts in the society. Society is continuously evolving. This means it is letting go off its older biases and developing new ones.
The newer ones are always deemed to be hip by the younger ones in the society. The so-called new blood loves change because the values and principles and processes applied to it by the yester-generation are of simply no relevance for the young anymore.
However, age old power structures and very deep rooted biases develop and strengthen over such a long period of time, so much so that shunning or undoing it becomes critical and nearly impossible.
The power structures in society have been unveiled through the help of the Marxist lens time and again. People have added to it, it has become a pop culture term and it has brought order in so many societies.
The society is flawed. Our status quo rewards the people for the wealth they have. The capitalist land and capital owner should not have been making the profits based on his wealth or resources. But the human resource or the labor should be rewarded with all the profits.
According to the Marxist tradition, the capitalist land and capital owner exploits the poor workers investing in the business via their expertise. This means that individuals add value to raw materials and the capitalist owners makes a profit on it.
It has been challenged by startups posing competition threats to big companies and giants, it has been challenged by the self employed, it has been challenged by the suburbian self-subsistence farmer. But, it has never been enough to stop the oppression of money and power.
The real challenge is here in the form of blockchain’s promise of Smart Contracts. Smart contracts or Decentralized Autonomous Organisations (DAO’s) are a human less operation that rewards not the creators but the workers. They may be the same, or they may be different, regardless it is the workers working and investing effort, muscle or brain power who wins, not the wealth owner.
This can already be seen by the mining operations of cryptos. But, the reward to be given to the actual ground producer and not the owner is a new setup that blockchain can bring out.
Marxist theory is to be rendered obsolete if factors play right. Technology has always influenced human beings in a way that people, things, ideas continue to become redundant. Anything that does not up-date and chooses to remain stagnant or resistant to change, goes out of touch and public popularity.
It is safe to say that human beings like new things just about as they hate them. This means that we get bored of older ideas as time passes. However, new ideas may feel too absurd if employed without a proper transition and understanding for smooth application and evolution.
So it is all a question of time, let’s see what it brings. Until then, let’s buy things we do not need with money we do not have.