What Is Marxism?

Marxism is a social, political, and economic philosophy named after Karl Marx. It examines the
effect of capitalism on labor, productivity, and economic development and argues for a worker
revolution to overturn capitalism in favor of communism.

Marxism posits that the struggle between social classes—specifically between the bourgeoisie,
or capitalists, and the proletariat, or workers—defines economic relations in a capitalist
economy and will inevitably lead to revolutionary communism.

KEY TAKEAWAYS

 Marxism is a social, political, and economic theory originated by Karl Marx that focuses
on the struggle between capitalists and the working class.
 Marx wrote that the power relationships between capitalists and workers were inherently
exploitative and would inevitably create class conflict.
 He believed that this conflict would ultimately lead to a revolution in which the working
class would overthrow the capitalist class and seize control of the economy.

Marxist theory and ideology

Karl Marx stated that the power relationships in existence between the capitalists and the
working class were in the nature of exploitation. In this situation, class struggles and conflicts are
inevitable. Marx believed that these class struggles will eventually result in revolution. In this
revolution, the working class will overthrow the capitalists and seize economic control.

The concept of Marxism was first formulated publicly by Karl Marx and Friedrich Engels in the
1984 pamphlet (The Communist Manifesto) where they laid down the theory of class struggles
and revolution. Marxism focuses basically on the criticisms of capitalism that Karl Marx wrote
about in his book in 1867 (Das Kapital.1).

Karl Marx believed the inherent seed of capitalism is destruction. He also stated that when the
capitalists alienate and exploit the working class, it will eventually push the working class to
rebellion against the capitalists. They will however seize control of the means of production.
Marx predicted that the collective ownership of means of production would replace private
ownership of means of production. This will first take place under socialism and then transit to
communism. In the human development’s final phase, class distinctions, social classes, and class
conflicts/struggles will cease to exist.
Marxism pros and cons

1) Advantages of Marxism

 True equality

The concept of Marxism creates true equality although it has been considered communism. It
usually places emphasis on human rights. Equal gender roles, access to education, and health
care form part of the Marxist’s foundation. Marx believed that equality should be in existence
before the law and societal services where every individual will have an equal say and
opportunity and there will be no form f gender-based discrimination. By implication, every
individual should have access to the most important he is in need of. These basic needs should be
accessible regardless of an individual’s job, residence, or activities.

 Protects unions’ rights

The concept helps in encouraging people to come together and form unions that will stand up for
their rights. The aim of this is to prevent anyone from facing exploitation from his manager.
This, in turn, creates a system of checks and balances to ease the achievement of maximum
production level. There is a common belief that the Marxist idea does not exploit workers,
followers believe that the formation of unions is a great idea.

 Rare debt

People and communities work together to achieve success. While farmers produce crops and
livestock, doctors make provision of health services, manufacturers produce finished goods, etc.
People come together to provide for one another while the government distributes necessary
resources. Because of this chain of activities, Marxism reduces the tendency of public debt.

 Societal benefits

Marxism possesses some level of societal benefits. When we look at the theory, it considers
society in its entirety. The theory acknowledges every social force that is involved including the
interest power of different groups. Laying emphasis on the impact of class struggles in society is
an effective mechanism in explaining societal change. This helps in organizing society under
capitalism where the capitalists maximize profits with the working class.

 Helps with capitalism

In cases whereby large multinationals are dominant in the economy of the entire world,
advocates of capitalism would state that the future lies with small businesses or small is
beautiful. However, we can consider the fact that the youthful phase of capitalism has gone
beyond recall. As long as Marxism is concerned, one cannot avoid monopoly in a capitalist
economy where larger and small capitals yield the same result. In modern days, multinationals
and monopolies in their wide range tend to take possession of the world and this makes to have
access to economies of scale,  gathering sums of money, the ability to manipulate commodity
prices, and having an influence on government policies. Marxism has been able to carry out
predictions on the inevitable tendency of monopoly where free market was standard

2) Disadvantages of Marxism

 Elimination of private ownership concept 

Marxism tries to eliminate the concept of private property ownership. Here, the state gives
everyone a place to live as they are part of the community even as they contribute to their
common good. This means that no individual has control over where he lives as well as what he
does to contribute to societal growth. This theory suggests that they should abolish the ownership
of private property and enterprises. In turn, it is not possible for any individual to take advantage
of opportunities since there will be no extra reward for hard work.

 Abolishes religion

Though the Marxist theory permits religion, the people do not have the right to practice their
religion in an organized manner. It is certain that religion can place one group in a superior
position to others. This does not go in accordance with the idea of equality that Karl Marx had.
So, there would be no organized religion as he believed that people used religion to control
others. Because of this, people lack the freedom of choosing their spirituality.

 No opportunities for entrepreneurs

Usually, this theory gives no room for entrepreneurship. Here, even those that seem to have their
own business enterprise are still working under the government. This implies that an individual
cannot have his own restaurant, sole proprietorship, corporations, private limited liability
companies, or private partnerships. The government is fully in control of everything.

 Negative effects on education

The idea of Marxism has negative effects on the educational system. Here, the educational sector
will only implement that which is under the absolute control of the state. It is the state that
decides the methodology of teaching, curriculum construction, and the system of examination.
This does not permit other agencies of education be it local or regional. Economics occupies a
relevant position in the curriculum. With this, education looks at economics as the cornerstone of
every human activity although this is not factual. Because of this, the neglect of the creative
faculties of children can result.
  It can lead to communism

When Marxism occurs, it is possible for communism to also occur because there is a notion that
this philosophy can result in a dictatorship. Certainly, individualism will have no place and this
can create a society that is dangerous without anyone having motivation. In theoretical terms,
equality, where everyone has access to fair treatment, sounds great, the individual is still out of
focus.

Capitalism vs Marxism explained

Meaning and definition

Capitalism is an economic system whereby private individuals own and control means of
production. On the other hand, Marxism is an economic, political, and social concept that
critically checks the impact of capitalism on labor, productivity, and economic development.

Marxism as a Conflict Theory

Marxism is a conflict theory. This conflict theory explicitly emphasises the promotion of

Marxism is a conflict theory based on the idea that society is in conflict with each other; the
conflict is between the rich and the poor”

Reference:

 Marxism: What It Is and Comparison to Communism, Socialism, and

1. It is a social, political and economic philosophy.

Enumeration:
Enumerate the 3 advantages and 2 disadvantages of Marxism