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What is Marxism?
Marxism is a socio-economic philosophy or method that attributes social movements or transformations in society to economic conditions affecting social classes.
Back to: ECONOMIC ANALYSIS & MONETARY POLICY
Fundamental Concepts in Marxism
Marxist theory explains that forces of production (such as technology improvements) will obviate (do away with the need for) individuals who do that work. This will cause conflict between the class of individuals who own or control production (bourgeoise) and those who work to actual produce (proletariat) classes.
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