Understanding Marxism: A Socio-Economic Theory by Karl Marx

a political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs.

Communism

The political theory you are referring to is called Marxism. Marxism is a socio-economic theory that is based on the works of Karl Marx, a German philosopher and economist. Marx believed that capitalism led to the exploitation of workers by the owners of the means of production, who he called the bourgeoisie. He argued that the proletariat, the working class, were alienated from their own labor and the products they produced. As a result, Marx believed that class struggle was inevitable and that the proletariat would eventually overthrow the bourgeoisie in a revolution.

Marx proposed that after the revolution, a socialist society would be established where all property would be publicly owned and controlled by the workers themselves. This society would be based on the principle of from each according to his abilities, to each according to his needs. In other words, people would work according to their abilities, and they would be paid according to their needs.

Marx believed that socialism was a transitional stage to communism, an ideal society that would have no social classes, private property or government. In a communist society, all people would enjoy equal opportunities and benefits. The idea behind communism was to create a more just and equal society, where power and wealth were shared equally among all members.

Although Marx saw the establishment of socialism and communism as inevitable, his prediction has not been borne out by history. Nevertheless, Marxist ideas continue to be influential in political and economic discussions throughout the world.

More Answers: