Marxist Theory On Capitalism And Communism - 1468 Words

MARXIST MATERIALISM Marx was a philosopher and economist. He developed the concept of materialism to study the material things in society, i.e. the economy, that shape and affect the social life of individuals. Marx studied the work of Hegel, however rejected his predecessor’s focus on ideals because he recognized an essential connection with the problems of society and individuals and the material conditions of the society (Ritzer 2011: 21). Marx employed materialism in two facets of his theoretical work, historical materialism and dialectical materialism. Materialism is a central component of Marx’s study of Capitalism and theoretical development of Communism. Historical Materialism Historical materialism serves a dual role in†¦show more content†¦The statement encapsulates the tenets of historical materialism and is a major Marxist critique of Capitalism. Marx finds throughout history, specifically written history, the economic conditions of given time-periods created social orders that reflected the conditions. Societies have typically organized a two-party social class system, assigning an individual based upon their wealth and role in economic and social structures. Marx simplifies the relationship of the classes as that of â€Å"oppressor and oppressed† throughout history and societies, and highlights the perpetuation of inequality based on the class system (50). Industrialization and capitalism established a society of Bourgeoisie and Proletariats, the former the owners of the means of production and the latter the workers. Marx formed the labor theory of value to mirror the doctrine of political economists like Adam Smith. The labor theory of value attributes all wealth and value in Capitalism to the labor of the