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In this chapter, Marx examines the functions of money commodities. According to Marx, the main function of money is to provide commodities with the medium for expressing their values, i.e. labour time. The function of money as a measure of value serves only in an imaginary or ideal capacity. That is, the money that performs the functions of a ...
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 ...
Published in German in 2004, the book is structured as a shortened account of Marx's analysis of capitalism, and is written from the standpoint of the Neue Marx-Lektüre school of thought, criticising both Marxist and bourgeois readings of Marx. [1] [2] The book was first published in Germany by Schmetterling Verlag and became one of the most ...
Classical Marxism is the body of economic, philosophical, and sociological theories expounded by Karl Marx and Friedrich Engels in their works, as contrasted with orthodox Marxism, Marxism–Leninism, and autonomist Marxism which emerged after their deaths. [1] The core concepts of classical Marxism include alienation, base and superstructure ...
The value-form or form of value ("Wertform" in German) [1] is an important concept in Karl Marx's critique of political economy, discussed in the first chapter of Capital, Volume 1. [2] It refers to the social form of tradeable things as symbols of value, which contrast with their physical features, as objects which can satisfy human needs or ...
[1] [2] Most modern forms of communism are grounded at least nominally in Marxism, a theory and method conceived by Karl Marx and Friedrich Engels during the 19th century. [3] Marxism subsequently gained a widespread following across much of Europe, and throughout the late 1800s its militant supporters were instrumental in a number of ...
This party, which advocated Marxism and still exists today, was a confederation of small Marxist parties and came under the leadership of Daniel De Leon. In 1901, a merger between opponents of De Leon and the younger Social Democratic Party joined with Eugene V. Debs to form the Socialist Party of America.
Marx located historical change in the rise of class societies and the way humans labor together to make their livelihoods. [1] Karl Marx stated that technological development can change the modes of production over time. This change in the mode of production inevitably encourages changes to a society's economic system. [citation needed]