Marxism

Published Oct 25, 2023

Definition of Marxism

Marxism is a sociopolitical theory that originated from the works of Karl Marx and Friedrich Engels. It is based on the idea that societies are divided into two main classes: the bourgeoisie (or capitalists) and the proletariat (or workers). According to Marxism, the bourgeoisie, who own the means of production, exploit the proletariat, who sell their labor in exchange for wages. Marx argued that this fundamental class conflict would ultimately lead to the overthrow of the bourgeoisie and the establishment of a classless society.

Example

To illustrate Marxism, consider a factory where workers produce goods. The factory is owned by a wealthy capitalist who hires the workers and pays them a wage for their labor. According to Marxist theory, the capitalist extracts surplus value from the workers’ labor, meaning the value of the goods produced by the workers is greater than the wages they receive. This surplus value becomes profit for the capitalist, while the workers only earn enough to meet their basic needs.

Marxism argues that this exploitation of labor is inherent in capitalist societies and perpetuates social inequality. Marxists advocate for the collective ownership of the means of production, where workers would control and benefit from their own labor.

Why Marxism Matters

Marxism has been a significant influence on social and political movements throughout history. It critiques the capitalist system and highlights issues of class exploitation and inequality. Marxist theory emphasizes the importance of collective action and the pursuit of social justice. While Marxist ideas have evolved and been adapted in various ways, they continue to shape discussions around capitalism, economic systems, and social equality. Understanding Marxism is essential for analyzing and engaging in debates regarding socioeconomic structures and class struggle.