Marxism is an analytical concept concerning social, economic and political philosophy that examines the problematic nature of capitalism in the economy.
Marxism was originated by Karl Marx alongside Friedrich Engles.
He focuses on the struggle between capitalist and working class. Marx wrote that the power relationship between capitalist and workers were inherently exploitative and would inevitably create class conflict.
Marx believed that capitalists inevitably paid their workers less than the value of goods that they produce. That is, to say: If a worker needs one pound to feed, clothe, and house himself and he produces 5 pounds worth of goods per day, the capitalist would make 4 pounds profit.
He believed that this conflict would ultimately lead to revolution in which the working class would overthrow the capitalist class and seize control of the economy.
Marxism was first publicly formulated in 1848 in pamphlet "The communist Manifesto" by Karl Marx and Friedrich Engels which lays out the theory of class struggle and revolution.
Marxian economics focuses on the criticism of capitalism, which Karl Marx wrote in the book "Das Kapital" published in 1867.
Capitalist society is made up of two classes, the bourgeoisie or business owners, who control means of production and proletariat or workers, whose labour transform raw commodities.
To maximize profit, business owners have an incentive to get most work out of their laborers while paying lowest possible wages.
This creates an unfair imbalance between owners and laborers, whose work the owner exploits for their own gain.
This confrontation, according to Marx, will finally result in replacing the system of socialism. The fact that the era of communism came to an end in Eastern Europe was not much of a surprise, since the system was oppressive, inefficient and essentially totalitarian (Marga, 1995)
The ideas expressed by Marx might offer one alternative that is indeed more considerate to human rights. Levin introduces four categories where Marxism can contribute to a maybe fairer and more just society:
1) Marx’s theory on different classes within the society can provide valuable suggestions on how these classes can interrelate to form a whole and therefore demonstrate society’s functionality as one single unit.
2) The theory can help us consider the present in a long term perspective through Marx’s historical sense, as well as understand the inherent dynamic of a society as a whole and not only their functionality as separate units.
3) Marxism can provide a theory of a society in accordance with the highest human ideals to a very high extent.
4) Marxism can serve as a mode of analysis examining the relationship between ownership, power and social change and thus illuminate a wider variety of social transformation than whatever is currently dominant.
Marxists were aware that socialism is not something that can be introduced easily, but rather class struggle and revolutions formed a vital part of their theory.
WRITER: SANIYA ANSARI
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