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The "capitalistic era" according to Marx dates from the 16th century, i.e. it began with merchant capitalism and relatively small urban workshops. [ 6 ] For the capitalist mode of production to emerge as a distinctive mode of production dominating the whole production process of society, many different social, economic, cultural, technical and ...
Capital is a central concept in Marxian critique of political economy, and in Marxian thought more generally.. Marxists view capital as a social relation reproduced by the continuous expenditure of wage labour.
Karl Marx [a] (German: [kaʁl maʁks]; 5 May 1818 – 14 March 1883) was a German-born philosopher, political theorist, economist, journalist, and revolutionary socialist.He is best-known for the 1848 pamphlet The Communist Manifesto (written with Friedrich Engels), and his three-volume Das Kapital (1867–1894), a critique of classical political economy which employs his theory of historical ...
In Das Kapital (1867), Marx proposes that the motivating force of capitalism is in the exploitation of labor, whose unpaid work is the ultimate source of surplus value.The owner of the means of production is able to claim the right to this surplus value because they are legally protected by the ruling regime through property rights and the legally established distribution of shares which are ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 3 February 2025. Economic and sociopolitical worldview For the political ideology commonly associated with states governed by communist parties, see Marxism–Leninism. Karl Marx, after whom Marxism is named. Friedrich Engels, who co-developed Marxism. Marxism is a political philosophy and method of ...
A critique of the results of capitalism was formulated by Karl Marx. According to Marx, the treatment of labor as a commodity led to people valuing things more in terms of their price rather than their usefulness (see commodity fetishism ), and hence to an expansion of the system of commodities .
Marx and Engels assert that capitalism is marked by the exploitation of the proletariat (working class of wage labourers) by the ruling bourgeoisie, which is "constantly revolutionising the instruments [and] relations of production, and with them the whole relations of society". They argue that capital's need for a flexible labour force ...
In disinterring the origins of capital, Marx felt the need to dispel what he felt were religious myths and fairy tales about the origins of capitalism. Marx wrote: This primitive accumulation plays in political economy about the same part as original sin in theology. Adam bit the apple, and thereupon sin fell on the human race.