KARL MARX : MARXISM BASICS

Karl Marx

source : google images

karl marx Born on: 5 May, 1818

Died on: 14 March, 1883

Nationality: Prussian

Famous as: Philosopher, Economist, Journalist and Sociologist

About Him?

  • Karl marx was a Prussian born philosopher, journalist, economist, sociologist and a revolutionary socialist. Marx’s theories about economics, society, and politics, which are collectively known as Marxism.
  • Marxism holds that human societies develop through class struggle. In capitalism, it manifests itself in the conflict between the ruling classes that control the means of production and working classes that enable these means by selling their labor for wages.
  • Marx has been described as one of the most influential economists in the history of humans. And he has been both praised as well as criticized.
  • Furthermore, his work in economics laid the basis for much of the current understanding of labor and its relation to capital and subsequent economic thought. Marx has been cited as one of the principle architects of modern social science.

Childhood and Early Education: –

  • At the age of six, Karl Marx was admitted into a Lutheran elementary school but later became an atheist. Rejecting both the Christian and Jewish religions.
  • Karl attended the Friedrich Wilhelm Gymnasium in Trier for Five years, later graduating in 1835 at the age of seventeen.
  • Marx, later in October 1835, enrolled in Bonn University in Bonn, Germany, where he attended courses primarily in law, as it was his father’s desire that he became a lawyer.
  • Furthermore, Marx’s dismayed father took him out of Bonn and had him enter the University of Berlin, where he spent more than 4 years, completing his studies with a doctoral degree in March 1841.

 

Major Works: –

  • The Communist Manifesto, published in 1848, states that as wealth became more concentrated in the hands of a few capitalists. The ranks of an increasingly dissatisfied workers would swell in the economy, leading to a revolution and eventually a classless society.
  • Furthermore, Marxist theory of historical materialism, a set of manuscripts authored by Marx and Friedrich Engels in 1846. Sees human society as being fundamentally determined at any given time by its material conditions. Or the relationships which people have with others for producing and reproducing the means of the human existence.
  • Das Kapital is the 3rd volume work by Karl Marx. The idea behind this work is that the motivating force of capitalism is in the exploitation of labor, whose unpaid work is the ultimate source of surplus value.

in addition, ADAM SMITH ; THE FATHER OF MODERN ECONOMICS

THE ECONOMIC TRIVIA ( ELASTICITY)

 

content credits :Pravsaran Singh

 

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