Karl Marx

Karl Marx was a German philosopher, economist, and political theorist, whose work formed the basis of Marxism. His analysis of capitalism and his theory of historical materialism influenced political movements and social thought throughout the world.

Life

Marx was born in Trier, in what is now Germany, in 1818. He studied philosophy and law, and he became a journalist and a political activist.

He was expelled from several countries for his political activities and settled in London in 1849, where he spent the rest of his life. He worked as a correspondent and conducted research in the reading room of the British Museum.

He died in 1883. His collaborator Friedrich Engels supported him financially and edited his later works.

Historical Materialism

Marx's theory of history holds that the development of society is driven by the mode of production, which comprises the productive forces and the relations of production. The relations of production, which include the class structure, correspond to the stage of development of the productive forces.

The theory holds that societies pass through stages, including feudalism and capitalism, and that the contradictions within each stage lead to its transformation. The theory is a framework for the analysis of social change.

The Critique of Capitalism

Marx analysed capitalism as a system based on the exploitation of labour. He argued that the value of a commodity is determined by the labour embodied in it, and that the capitalist appropriates the surplus value created by the worker.

He analysed the tendency of the rate of profit to fall and the concentration of capital, and he predicted that the contradictions of capitalism would lead to its crisis and to its replacement by socialism.

Political Works

The Communist Manifesto, written with Engels and published in 1848, called for the overthrow of the capitalist system and the establishment of a classless society. It remains one of the most influential political documents ever written.

Das Kapital, published in three volumes, is Marx's major analysis of the capitalist mode of production. It develops the theory of value, of surplus value, and of the accumulation of capital.

Legacy

Marx's influence on political movements, on the social sciences, and on philosophy is immense. His ideas were developed by his followers and applied in many countries, with results that varied widely.

His analysis of capitalism continues to be studied, and his questions about exploitation, alienation, and social change remain central to social theory.

The Philosophical Background

Marx was influenced by the philosophy of Hegel, whose dialectical method he adopted and transformed. He also drew on the political economy of Adam Smith and David Ricardo, and on the socialist thought of the nineteenth century.

He developed the theory of historical materialism, which holds that the development of society is driven by the material conditions of production. The theory is a framework for the analysis of social change.

The philosophical works of the young Marx, including the Economic and Philosophic Manuscripts of 1844, developed the concepts of alienation and of the human essence. They were published only in the twentieth century and influenced the development of Western Marxism.

The Theory of Value

Marx's theory of value holds that the value of a commodity is determined by the labour time socially necessary for its production. He used the theory to explain the origin of profit, which he attributed to the surplus value created by the worker.

The theory has been debated, and it has been criticised by the marginalist school and by later economists. It remains central to the Marxist analysis of capitalism.

Das Kapital

Das Kapital, published in three volumes, is Marx's major analysis of the capitalist mode of production. The first volume, published in 1867, analyses the commodity, the theory of value, and the process of accumulation. The later volumes, edited by Engels, analyse the circulation of capital and the tendency of the rate of profit to fall.

The work is a detailed analysis of the capitalist economy and a critique of the political economy of his time. It remains one of the most influential works in the social sciences.

The Legacy

Marx's influence on political movements, on the social sciences, and on philosophy is immense. His ideas were developed by his followers and applied in many countries, with results that varied widely.

His analysis of capitalism continues to be studied, and his questions about exploitation, alienation, and social change remain central to social theory. He is regarded as one of the founders of sociology and of modern political economy.

Summary

Marx was a philosopher, an economist, and a political theorist whose work shaped the social sciences and political movements. His theory of historical materialism and his critique of capitalism are among the most influential contributions to modern thought.

See also

• Friedrich Engels
• Adam Smith
• Political economy