Karl Marx and Neo Theories

The relations between wage labours and capitalists at first facilitated rapid technological innovation and economic growth. This idea followed Marx's belief that the capitalist mode of production was flawed and that technology advancements only served the capitalist and not that of the workers. The materialism that the capitalist held was that of wealth above all other was of the essence.
Unfortunately, the crises of overproduction are created by the innovation in technology and as this growth continued so did the rate of production. As this rate of production increases, the need for more skilled workers decreases thus diminishing the work force. This allows the capitalist to produce more and have less cost and thus will equal more profit.
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