“the most influential socialist thinker to emerge in

the 19th century”

Prepared by:
LC00016000024
 Who is Karl Marx ?
Karl Marx's (1818- 1883)

Karl Marx is a philosopher, political theorist,

social scientist, historian, and a revolutionary.

 Marxism is the system of thought

development by Karl Marx, his co-worker
Friedrich Engels, and their followers.

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 Capitalism
– Economic system in which private individuals and
business firms carry on the production and
exchange of goods and services through a complex
network of prices and markets.

– Marx despised capitalism, believing that it created

prosperity for only a few and poverty for many, so
he called for an international struggle to bring
about its downfall.

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 Socialism
• The theory or system of the ownership and operation
of the means of production and distribution by society
or the community rather than by private individuals.
• Under socialism, there still remains a vestige of
capitalism wherein an economic activity is still
basically organized through the use of incentive
systems.
• Under socialism, each person contributes to the
economic process according to his ability and receives
an income according to his contribution.

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 Communism
• It puts control of all property into the hands of the
government directly.
• Communism is the abolishment of private ownership.
• Communism was originally envisioned by Marx and
Engels as the last stages of their socialist revolution.
• Communism is a brutal system of government. It does
not just fail to protect individual rights, it establishes a
system of violence force. The results have been exactly
what one would predict: starvation, poverty, and the
slaughter of millions.

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Summary

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 Marxism
Marx’s ideas and theories came to be known as
Marxism, or scientific socialism, which constituted
one of the principal currents of 20th-century political
thought.

Marxism is also called as the theory of the

proletariat. It is where science becomes
revolutionary. Just as the economists are the
scientific representatives of the bourgeois class, so
the socialists and the communists are the
theoreticians of the proletariat class.

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Marx describes the “class struggle”
• Two classes in society- the “haves” and the “have
nots”
• “haves” control the production of goods and possess
most of the wealth
• “have nots” do the labour but reap no rewards for
their work
• Bourgeois- hold economic power; middle-class
capitalists who own the factories, mines, banks, and
businesses
• Proletariat- wage-earning laborers

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JUST KIDDING.THANK YOU!
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