[Candor7]

The basic weakness which brought about the authors abandonment of Marxist economic theory is :

Man does not exist by the sole parameter of material wealth. Having material wealth equally distributed in society does not bring about human happiness. It actually reduces man to be an economic animal focused on equality.
Man is naturally not that. If anything Marxist economic theory is too simplistic and does not reflect the basic nature of man in any reality but a created , imposed one.
For this reason, Marxist economic approaches are doomed to fail in the long run, and are effective only as emergency measures.

[gitmo]

For this reason, Marxist economic approaches are doomed to fail in the long run, and are effective only as emergency measures.

Marxist economic systems fail because they ignore the win-win nature of capitalism. If I purchase a hamburger for a dollar, it is because the value of the hamburger exceeds the value of the dollar. I win.

And the hamburger guy sold me his hamburger because the value of the dollar exceeds the value of the hamburger. He wins.

The same things applies to employment. The only reason I work 11 hours for my employer is because the value of my salary exceeds the value of that time. I win.

And my employer earns more money from my labor than he spent on my salary and benefits. He wins.

Marxism assumes these exchanges are one sided, and forces the two parties to participate under altered circumstances. When you artificially change the equation (through the use of force), you create losers in the economic exchange. And a system cannot endure when certain participants are perpetually forced to lose.

[B-Chan]

Capitalism shares these weaknesses:

Man does not exist by the sole parameter of material wealth. Having material wealth, even if earned through work, does not bring about human happiness. It actually reduces man to the status of "human resource" focused on profitability. This contradicts both the fundamental nature of man and his dignity as a human person.

A good society cannot be centered on economic principle. When the lives of human beings are involved, life and death must must be more than a simple calculus of supply and demand. As with Marxian socialism, free-market capitalism is too simplistic in that it reduces all human relations to a basis of economics, and in so doing does not reflect the basic nature of man as a person -- a being of intrinsic value regardless of his or her economic potential, and a being that cannot exist except as an integral part of a community of persons.

By turning human beings into human resources, pure capitalism separates man from his special status as a being unique, sacred, and created in the Image of God; by turning every man into a competitor of every other man, it also disrupts the social character of human life; and, by the practice of work for wages, it alienates him from his own labor. For these and other reasons, purely capitalist economic approaches are doomed to fail in the long run; as with socialism, capitalism's materialistic and utilitarian basis is a foundation of sand. Only those social and economic systems founded upon the Rock of a genuinely Judeo-Christian culture and family-centered social and economic order can truthfully be called moral and viable over the long term.