Karl Marx was a German philosopher who developed a materialist conception of history. He believed that history is driven by class struggle between social classes and that society progresses through different modes of production. Marx saw capitalism as exploiting the working class, or proletariat, by paying them less than the value they produce. He predicted that internal contradictions within capitalism would lead to its self-destruction, bringing about a communist revolution and a classless society.

1. MARXISM MARXISM

2. Overview Who was Karl Marx? How did Marx explain the development of history? What relationship did Marx see between history, economics and politics? What was Marx’s critique of democracy?

3. Karl Marx (1818-1883) German political/economic philosopher Bourgeois in background Began his career in journalism Famous works: Das Kapital, The Communist Manifesto, and Critique of Political Economy

4. Marx on History History unfolds because of materialist forces “ The history of all existing societies is the history of class struggle” Patricians v. Plebians Feudal Lords v. Serfs Bourgeois v. Proletariat

5. Marx on History Different social classes occasion different forms of oppression and struggle ([ sub]structure ) Social and political institutions or beliefs reflect the interests of the dominant class ( superstructure )

6. Bourgeois Society Characteristics: Two-fold division of the populace Bourgeois (Capitalist Class) Those who own property and control the means of production Proletariat (Labor Class) Those who cannot afford to own property and contribute their labor to production

7. Bourgeois Society Arises because of… Larger market for goods Need for large-scale production Industrialization of the production process Is accompanied by political centralization

8. The Contention “… for exploitation…[the bourgeois] has substituted naked, shameless, direct, brutal exploitation.”

9. Marx’s Economics Cost is king (i.e. key concept) The cost of a product is the sum of its constant capital and variable capital Constant capital refers to the fixed capital provided by the capitalist Variable capital pertains to labor

10. Marx’s Economics However, capitalists only engage in production if it is profitable The profit comes from paying workers less than the value they produce Workers wages = subsistence The difference is known as surplus value

11. Marx’s Politics Workers find it difficult to fight against this arrangement There is a large reserve army of workers ready to take their jobs Government institutions cater to maintaining the capitalist arrangement Thus, democracy is also an instrument of exploitation

12. Marx’s Solution The exploitation in bourgeois capitalism is a result of materialist history (class struggle) Thus what needs to be done is to eliminate classes The way to do this is to eliminate private property

13. Marx’s Predictions The bourgeois capitalist system will collapse on its own Competition will drive profits down Economic survival of the fittest Systemic economic crises and depressions

14. Marx’s Predictions Growth of the proletariat Immiseration of the proletariat The rise of the proletariat against the bourgeois and the establishment of a communist state Eventual withering away of the state