What Is 'Marxism'?

Marxism is a social, political, and economic philosophy that examines the effect of capitalism and advocates for revolutionary communism. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Term of the Day | Words to Know Marxism Marxism is a social, political, and economic philosophy named after Karl Marx, which examines the effect of capitalism on labor, productivity, and economic development and argues for a worker revolution to overturn capitalism in favor of communism. Marxism posits that the struggle between social classes, specifically between the bourgeoisie, or capitalists, and the proletariat, or workers, defines economic relations in a capitalist economy and will inevitably lead to revolutionary communism. Read More » Related to "Marxism" Important Features of Capitalism Important aspects of a capitalist system are private property, private control of the factors of production, accumulation of capital, and competition. Read More » Capitalism vs. Socialism: What's the Difference? Capitalism promotes free market conditions, while socialism incorporates elements of centralized economic planning. Read more to learn the differences between capitalism and socialism. Read More » SPONSORED BY INVESCO The Complete Guide to ETFs ETFs are becoming increasingly popular and soaring to new heights among investors. Invesco's insights can help you determine if these investment vehicles are right for you. Learn More » What Role Does the Government Play in Capitalism? Examining the role of government in a capitalist economic system and ideas about the proper amount of state intervention. Read More » Related Definitions Karl Marx Karl Marx was a 19th century philosopher, author and economist famous for his ideas about capitalism and communism. He was the father of Marxism. Read More » Capitalism Capitalism is an economic system whereby monetary goods are owned by individuals or companies. Read More » Conflict Theory The conflict theory states that society is in a constant state of conflict due to competition for limited resources. Read More » Socialism Socialism is an economic and political system based on public or collective ownership of the means of production which emphasizes economic equality. Read More » CONNECT WITH INVESTOPEDIA Email sent to: mondemand.forex@blogger.com To update your newsletter preferences or unsubscribe, click here. 114 West 41st St, floor 8 New York NY 10036 © 2020, Investopedia, LLC, All Rights Reserved | Privacy Policy