What economic system did Karl Marx hate?

Marx criticized the capitalist economic system, because it resulted in the creation of two classes of people, the bourgeoisie and the proletariat with the bourgeoisie being able to oppress and exploit the proletariat. He also felt it had three inherent contradictions that would lead to its demise. First, the system aimed at production for personal gain rather than the betterment of society in general. Second, improvements in industry turned the labor force into a social force since the individual artisans of the past were being replaced by common laborers who would eventually be motivated to unite at some time. Third, while there is order and planning within individual factories, there is competition outside of them. This results in a failure to match production with demand.