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Marx had once stated that under capitalism the threat of the Monseigneur's (feudal lord or slave master) whip is replaced by ‘the threat of the sack (unemployment)'. Briefly explain (350-500 words) what Marx means by this statement?

[Hint: how one of the reasons for the success of capitalism (as compared to command and tradition based systems) is that it replaces visible coercion with invisible coercion]

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