Like the other classical economists, Karl Marx believed in labor value theory to justify relative market price differences. This theory suggested that the value of an economic good produced can be objectively determined by the total number of working hours needed to produce it. In other words, if...
Karl Marx believed that knowledge was historically and culturally relative. In every society people believed that their knowledge, their perceptions of the world, values, standards of behavior represented their culture as best in the absolute sense. They failed to see how their culture was in fact...
believed that humans were social individuals that simultaneously satisfied and forged their needs in the contexts of historically particular social relations and created cultures. Marx continually refined the empirical, philosophical, and practical dimensions of his anthropology throughout his lifetime. ...
Marx believed that these property relations defined the role that each person would play in society. For example, workers only own their ability to work, which they sell to the capitalists, who own the money to pay the workers. Thus, Marx believed that "the relations men establish with each...
Karl Marx (1818–83) was a revolutionary, socialist, historian, and economist who wrote the works, including Das Kapital and (with Friedrich Engels) The Communist Manifesto, that formed the basis of the body of thought and belief known as Marxism.
Marx believed that the capitalist system produces internal tensions which will inevitably lead to self-destruction, at which point socialism will rise up in its place. In time, this state of socialism, Marx argued, will be replaced by a stateless, classless society which he termed 'pure ...
Since Marx believed that surplus value appropriated from labor is the source of profits, he concluded that the rate of profit would fall even as the economy grew. When the rate of profit falls below a certain point, the result would be a recession or depression in which certain sectors of...
Marx believed that change comes from below, that is, a change in economic base leads to a change in superstructure and not vice versa. Marx was influenced by Hegel’s dialectics but inverted the sequence of change. While Hagel’s theory is called ‘dialectical idealism’, Marx termed his ...
If Marx were reading this analysis now, he would say that the real cause of these ideas of mine was not my mind's power to know the truth, but the capitalistic economic structures of the society that "produced" me. Marx believed that within man thought was totally determined by matter;...
Like the otherclassical economists, Karl Marx believed in alabor theory of value(LTV) to explain relative differences in market prices. This theory stated that the value of a produced economic good can be measured objectively by the average number of labor hours required to produce it. In other...