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Marxism Definition Glossary of Terms - Marxism

Marxism : Developed by Karl Marx and Friedrich Engels in the 19th century, Marxism refers to the idea that all evolving economies ultimately take the same course: Feudalism to capitalism and eventually ending up as a socialist or communist environment where economic and social classes no longer exist.
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According to Marxism, feudal and class structures are doomed to fail due to the rising tensions between the classes. As the lower classes rise in opposition to the higher classes, the entire structure breaks down, usually resulting in a revolution. Once the class structure no longer exists, the remaining population begins building a capitalistic society in which all individuals have equal rights to own property and the means of production. But, according to Marxism, the working class eventually finds themselves as commodities and traded labor in the free markets of capitalism.

As a result, this middle labor class revolts once again against the system in order to bring true equality to all and give all production and property to the community as a whole, giving more control to the masses as opposed to the individual. While this could take the form of a socialist society, Marxism also dictates that the result could also be communism.

Also called : Marxist thinking or Marxists.
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