Marxism is a socialist philosophy developed by Karl Marx and Friedrich Engels in the mid-19th century, based on class struggles and the progression of society from capitalist oppression to a socialist and classless society through a workers’ insurrection. Marx believed that under capitalism, the working class is oppressed and alienated by the wealthy elite, leading to inequality and other dangers. The only way to overcome this oppression was through an uprising, allowing workers to take control of resources and means of production. Marxism became highly influential in 20th century global politics, leading to the creation of the USSR and People’s Republic of China.
Marxism is a political and economic philosophy based on theories of class struggle within societies. This philosophy was developed by Karl Marx – from whom it takes its name – and Friedrich Engels during the mid-19th century. It is often described as a form of socialism, an economic system in which resources and means of production are publicly owned. Marxism calls for the progression of society from capitalist oppression to a socialist and classless society through a workers’ insurrection, which it deems necessary.
Class struggles
Marx believed that history is a series of class struggles and revolts. Under capitalism, he argued, members of the working class, which he called the proletariat, are oppressed and alienated by the wealthy elite, which he called the bourgeoisie. The rich own the resources and means of production and inevitably pay their workers less than their true value in order to make profits and increase their wealth. As the rich get richer, inequality between classes increases, leading to even more oppression.
Other dangers of capitalism
Another of Marx’s criticisms of capitalism was that competition between like firms would increase until one of them drove its competitors out of business by becoming a monopoly. The creation of powerful monopolies would make it possible to pay workers less and pay consumers more. Free-market forces would also lead to wild swings in the economy, including periods of severe depression.
Workers’ revolt
The only way for the proletariat to overcome its oppression and avoid the pitfalls of capitalism, Marx believed, was through an uprising. This would allow workers to take control of resources and means of production. The government would then become what Marx called a dictatorship of the proletariat – in other words, the workers would rule. A socialist system would be established and eventually evolve into a communist society, including common ownership of all resources and means of production, no class system and no monetary system.
The influence of Marxism
Marx’s theories were detailed in two books he wrote, The Communist Manifesto, in 1847, and Das Kapital, in 1867. Although many of Marx’s economic theories, such as the labor theory of value, were soon discredited, Marxism became a highly influential concept in 20th century global politics. Marxism is widely considered to have led to the creation of the Union of Soviet Socialist Republics (USSR) in 20 and later the People’s Republic of China, in 1922. There are many variants of Marxism that were developed after Marx’s death in 1949, including Leninism, Trotskyism, Stalinism and Maoism.
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