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Definition of economics by Karl Marx?
Marx employed a labour theory of value, which holds that the value of a commodity is the socially necessary labour time invested in it. Capitalists, however, do not pay workers the full value of the commodities they produce. The gap between the value a worker produces and her wage is a form of unpaid labour, known as surplus value. Moreover, Marx notes that markets tend to obscure the social relationships and processes of production, a phenomenon he termed commodity fetishism. People are highly aware of commodities, and usually don't think about the relationships and labour they represent. Marx's theory of value, perhaps his most important contribution to the field of economics, albeit, the most rejected - stated that the value of any given commodity is determined by the socially average simple labour time used to create it, giving skilled labour value in multiple units of unskilled labour, suggesting that the market determines all prices based on this mythical underlying labour cost
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Karl Marx had developed advanced ideas about economics and the economy that had influenced other developers.
Culture is the structure based on economy
Yes, he philosophized the economic system of Socialism and other leftist political systems such as Communism, which had economic elements. Socialism and communism are actu…ally two distinct politico-economic systems - they both have their own political and economic systems. Marx also wrote the most systematic (at the time, and in my opinion, to date) critique of capitalism. In fact, I think its wrong to describe communism as a political system - democracy is the political system of communism - communism is fundamentally an economic system.
No. His philosophy was very complicated and encompassed a great range of things from human experience that many find difficult to understand and so they often make the mistake… of thinking he was deterministic. He often said that economics was the most powerful force there was but very few things could ever be explained purely in economic terms.
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 ab…le 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.
He would say that it is the responsibility of the government to protect the interests of its citizens. It doubtful however he would agree with the ethics of those doing it. -…-- Second opinion He might consider that the financial crisis is the end product of greedy capitalists, who can take excessive risk without consideration of their consequences and politicians, unwilling to rein in these risky ventures when things are going well. He would want a law that would take away all the houses, cars, etc that the COE's have, sell them and give the money to the people who have suffered. The Treasury Department would be run by people who had been through foreclosure. --- Third Opinion Marx understood capitalism to be ever innovating - it was and is quite impossible for it to remain stagnant. It is Marx who said that, and I'm paraphrasing, "One capitalist kills a hundred." This crisis, however severe, is just another evolution in the capitalist system. As businesses fail, the strongest survive. Marx might say the bailout is a good example of the false-consciousnesses that we've internalized as members of the Proletariat class. That is to say, we believe it's in our best interests that Wall Street succeed or that, colloquially, Wall Street's happiness begets Main Street's prosperity. We believe this because the capitalists have taught us that it is so. (This answer is based on Marx's writing. Those above, to my knowledge, are not.)
Socialism/Communism. They`re the same thing. Answer: Socialism and Communism are not the same thing. Socialism is a form of government. Communism is a form o…f economics. Marx didn't actually develop either of these two notions, but simply studied them, added to them, articulated them and gained support for them. The notions of communism and socialism have been around for eons and were collectively developed over the course of human history. Karl Marx is frequently called "The Father of Communism" because of his contributions to Communist thought and his ability to form a social movement around those ideals. He did not invent the concept however, though he did do a great deal to improve and help evolve the system.
Marx hated capitalism, primarily because it resulted in the creation of separate classes of society, the bourgeoisie, who were the owners and controllers of the means of produ…ction and the proletariat, who were the common laborers. Capitalism also permitted the bourgeoisie to oppress the proletariat to its detriment. Marx did give credit to capitalism for its ability through industrialization to become by far the greatest system for production of goods, but he still hated it for what it did to the workers of the world.
Karl Marx was a German philosopher and political economist who lived in the 19th century. He published several books; the most famous being The Communist Manifesto. In it he w…ent over class struggle and the fundamental problems of capitalism as well as outlining communism and what communists hope to achieve. Communism is an economic system of common ownership of the means of production (i.e. the workers (proletarians) own the factories and everything it produces, to use) as opposed to capitalism, which is the private ownership of the means of production (i.e. the rich and powerful (bourgeois) own the factories and everything it produces, to sell for profit).
nope he sure wasn't :)
Karl Marx believed that capitalism was tearing us apart and that we needed to change to a communist nation, where we all get the same pay and there is no owning private proper…ty. He thinking life would be better without the use of money because he once said "I do not like money, money is the reason we fight."
Marxist Concepts Certain concepts are key to an understanding of Marxism, a political theory that has caused the tremendous loss of life for 100 years. Key Marxist… concepts are diametrically the opposite to capitalism and some believe have created a mentality of a society that is very much a 'them and us' one. Marxism believes that capitalism can only thrive on the exploitation of the working class. Marxism believes that there was a real contradiction between human nature and the way that we must work in a capitalist society. Marxism has a dialectic approach to life in that everything has two sides. Marxism believes that capitalism is not only an economic system but is also a political system. The profit difference between what goods are sold for and what they actually cost to make, Marxism refers to as a "surplus profit". Marxism believes that economic conflict produces class (rich, middle and poor) and inherently class produces conflict. A Marxist analysis called 'Polarisation of the Classes' describes the historical process of the class structure becoming increasingly polarised - pushed to two ends with noting in the middle. It says that soon classes will disappear and be absorbed either into the bourgeoisie or the proletariat. Capitalism largely shapes the educational system, without the education system the economy would become a massive failure as without education we are without jobs and employment which is what keeps society moving. Education helps to maintain the bourgeoisie and the proletariat so that there can workers producing goods and services and others benefiting from it. Schools transmit an ideology which states that capitalism is just and reasonable. Ruling class project their view of the world which becomes the consensus view (hegemony). Marxists believe that a key part in the control of the Proletariat is the use of alienation in all aspects of society, including the family, the education system and the media. This provides the Bourgeoisie with a supple mass of workers who do not mind working for the external rewards of a constant wage. Marxists believe that deviance is any behavior that differs from the societal norm. It is seen as deviant because as a society, we do not accept it. Deviance can vary from simply odd behavior to behavior that can harm society or is considered dangerous or disrespectful. Neo-Marxism is based on ideas initially projected by Karl Marx. Marx believed that economic power led to political power and that this is the key to understanding societies. Neo-Marxists believe the economic system creates a wealthy class of owners and a poor class of workers. They also believe that certain social institutions such as churches, prisons and schools have been created to maintain the division between the powerful and the powerless.
In his Communist Manifesto, he argued for socialism as a realistic solution to many of the class problems evident in his society. He also assumed socialism would eventually be… replaced by pure communism, but that a jump from capitalism to communism was not viable without socialism as a transfer system.
Take money/goods from the rich and well-to-do, and give it to the poor people, more or less. This is the greatest philosophy of government that I know of . . . well, other t…han it cannot possibly work, even though President Obama is giving it a try. The reason that the USA has a free-market system (Not meddled in by big government) is that people's built-in instinct to compete and survive (OK, 'Greed', then) creates a situation in which everyone benefits from the jobs that are created and the resulting cashflow which trickles down to the least well off. The reason that Marxism/Communism failed in the USSR was that the 'rich' no longer had any reason to earn money, so they let their businesses dwindle and fail. Stalin's directive for their national government to take over private farms, for instance, resulted in years of famine and starvation for the entire country - government is not well-suited to replacing the private owner.