The Contribution to Economics of Each of the Following: • Adam Smith • Thomas Malthus • David Ricardo • Karl Marx • Alfred Marshall • John Maynard Keynes • Milton Friedman

Karl Marx was born in Prussia in 1818. Later in his life he became a newspaper editor and his writings ended up getting him expelled by the Prussian authorities for its radicalism and atheism (Perry 195). He then met Fredrich Engels and together they produced The Communist Manifesto in 1848, for the Communist League. This piece of writing basically laid out Marx’s theory of history in short form (Coffin 623). The Communist Manifesto is mainly revolved around how society was split up into two sides, the Bourgeoisie and Proletariat. I do believe that the ideas of the Communist Manifesto did indeed look educated on paper but due to the lessons of history communism is doomed to fail in the past, present, and future. Communism did not prevail in many different countries, two of them being Berlin and the Soviet Union.

Karl Marx was born in Prussia on May of 1818 to a middle class Jewish family. As an adult, Marx attended school in Berlin where he discovered the philosophy of G.W.F. Hegel. Hegel’s main concept was the idea of dialect, which can be explained as the process of logical argumentation and refutation. Marx was greatly influenced by Hegel, which is shown in Marx’s belief that history evolves through a series of predictable conflicts (A+E Television Networks, LLC. 2013). Marx also believed social divisions and civil unrest were due to the increase in industrialization and the widening gap between rich and poor.

Revolutionary socialist Karl Marx believed that the economic calculation problem should be solved adopting a communist approach; he expressed his ideas in his most notable work “The Communist Manifesto” in 1848. Marx believed that capitalism should be replaced by socialism and eventually communism and it should be done through abolishing markets, prices and private property. To understand Marx’s ideas it is important to define capitalism socialism and communism. Capitalism can be defined as ‘an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state’. On the other hand socialism can be defined as ‘a political and economic theory of social organization, which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole’.

Marxism is an ideology based on the economic and political theories of Karl Marx and Freidrich Engels. Karl Marx who was born in Germany in 1818 was a revolutionary whose ideas on society were the foundation of communism. Under modern capitalism the means of production, such as factories, land, and technology are controlled by a small minority who Marx called the bourgeoisie. Production is carried out by the working class, known as the proletarians who have to sell their labour or face poverty or starvation. Taken together these two classes form the economic base of society, what Marx called the substructure. Marx saw that there was conflict between these two divisions

German Philosopher Karl Marx created the ideology of Marxism in his novel called Communist Manifesto published in1848. In this novel, he expressed the importance of the proletariat, or the working class and how they will take the power out of the capitalist hands. However, Vladimir Lenin and the Bolshevik Party took over power in Russia and made what Marx envisioned as communism into

At the time Marx started writing his theories, the Industrial Revolution was taking place. Feudalism had been done away with, and the people who had been living on the common land allowed to them by lords were forced to leave. Without land or a livelihood that had previously been found in farming, people flocked to the cities to find work. With the Industrial Revolution also came an advance in technology. Ambitious people with enough capital goods and money started factories and soon came to be known as capitalists. An economy based on capitalism, a system that revolves around private ownership of the means of production, typically by a select few, was born. With the flood of newcomers to the cities, there were more than enough people to work the factories, so the capitalists did not have to take into account the workers opinions for fear of losing laborers. Marx felt that this allowed the capitalists to exploit their workers and not pay them what their labor should be worth. He also felt that capitalism was a system that thrived off of havoc and

According to Marx’s view of capitalism, every company works to make a profit, because without profit there is no reason to exist. He said that labor is a commodity that carries an exchange value to be traded for something else, but questioned how profit is made if commodities exchange in equilibrium. His answer was that profit is made when workers are exploited, or work part of the time without pay. Marx believed that if there were no workers there would be no profit and ultimately no capitalism. The issue is that human suffering, however, is good for business according to Marx. People are born into a preexisting system, because the economy forces people into social relations and roles, and because of this, workers truly felt that they would never become free from the capitalist class unless they had the ability to produce a living. Marx found this to be unjust and felt there should be a redistribution of wealth. Marx’s attack on capitalism, however, angered the bourgeois ruling class greatly, and his ideologies caused uproar. Marx was accused of overthrowing private property and capitalism, and leading the proletariat to rebel. He is noted to have caused working class upheavals and political revolution. Karl Marx’s work was a disturbance to society, which is why he

Both educated men are looking to better the world’s economy, by boosting sales, and production. Karl Marx believes that people need to work towards bettering the economy without expecting more money. He states

Karl Marx was the co-author of The Communist Manifesto, along with Friedrich Engels. The Communist Manifesto is a pamphlet that was written to let the public know how the working class was being treated, and to try to get rid of the class system that existed at the time. Marx believed that many of the workers throughout England were not being treated fairly and that something needed to be done about it. Marx explains, “The history of all hitherto existing society is the history of class struggles.” 1 He continues on to talk about how while looking at human history you ought to not just look at great individuals or great conflicts, but instead look more at social classes and the struggles in which they go

Marx believed that private ownership was wrong and everyone should be equal. It was Lenin who adopted Marx's ideas and he said that the middle class exploited the workers and should be overthrown. He understood that for his ideas

Karl Marx was the man that created communism, with help from Friedrich Engels. Much like when Old Major creates the idea of Animalism. Marx wasn’t alive when the idea of communism took over Russia but neither was Old Major. Marx was born on May 5 1818, in Trier, Kingdom of Prussia, German Confederation. He lived to 1883 and in his lifetime he created the idea of communism. He was a philosopher, economist, sociologist, journalist, and revolutionary socialist. So he knew a lot, but sadly couldn’t predict the future communism would

Karl Marx came up later with a theory of a classless society to help the working class fight back. Marx came up with many radical ideas to change the way society was proceeding socially which, caused him to be banished from his native land in Germany and then from France, eventually he ended up in England. (Compton's Encyclopedia, 121) Karl Marx believed that social conflict was needed for society to function. He showed people not to be scared of conflict but rather to except it as a way of life. Karl Marx believes that people have a "class consciousness" which means that people are aware of differences between one another and that it causes a separation between groups of people. People mostly look at material objects for a sense of class status. If you are wealthy in life then you have many material objects and if you are poor then you have very little. People need to be educated in order to move up in society, which is why the working class people rarely have a chance to be very successful. Karl Marx realized that the working class deserved more then they were receiving and he tried to help the situation. Marx wanted the wealthy people and the poor to become more economically equal in status. Karl Marx also discusses the economic issues that the working class faces with change. With capitalism growing there is a greater need for production in the factories. More products need to be produced and at

Communism is considered a reaction to the “evils of capitalism.” Another way of saying communism is “dialectical materialism.” Karl Marx borrowed many ideas from the ideas of Gregor Hagel. Karl Marx was a German professor and theoretician, he published 2 famous works The Communist Manifesto (1848) and Das Kapital (1866). Before he could finish Das Kapital he died, Friedrich Engels finished the book. Frederik Angles was a collaborator of Marx’s and co-author of the book. Marx saw the exploitation of the common worker and predicted a revolution that would see the rise of the proletariat against the capitalistic suppressors. Proletariat is a term used by Marx to describe the working class. He also

Karl Marx is often called the father of communism, but his life entailed so much more. He was a political economist, philosopher, and idea revolutionist. He was a scholar that believed that capitalism was going to undercut itself as he stated in the Communist Manifesto. While he was relatively ambiguous in his lifetime, his works had tremendous influence after his death. Some of the world’s most powerful and most populace countries follow his ideas to this day. Many of history’s most eventful times were persuaded by his thoughts. Karl Marx was one of the most influential persons in the history of the world, and a brief history of his life will show how he was able to attain many of his attitudes.

Karl Marx was an idealist. He observed the cruelties and injustices that the poor working class endured during the period of industrial revolution, and was inspired to write of a society in which no oppression existed for any class of people. Marx believed in a revolution that would end socialism and capitalism, and focus on communist principles. The Manifesto of the Communist Party, written by Karl Marx and edited by Frederick Engels, describes the goals of the communist party for ending exploitation of the working class and creating a society in which there is equality in society without social classes.1