Karl Marx Economic Views

Karl Marx Economic Views

Karl Marx Economic Views
Trained as a philosopher, Marx turned away from philosophy in his mid-twenties, and started leaning towards economics and politics. Historical materialism, Marxs theory of history, is centered around the idea that forms of society rise and fall, and then impede the development of human productive power. He saw this as the way that the economy rises and falls, with expansions and contractions. There was no way to stop this. There are always going to be periods where the economy does really well, then the economy will have contractions, and neither of those times last forever. He also said that 2 necessary conditions for commodity production are in a market. Exchange can take place, and a social division of labor, in which different people produce different products. Without which there would be no motivation for exchange. Marx suggested that commodities have both use value, in other words

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