Marxian Flashcards
It is a social and economic doctrine that calls for public rather than private ownership or control of property and natural resources?
Socialism
It is an economic and political theory that examines the flaws inherent in capitalism; it’s primarily based on the work of German philosopher and economist Karl Marx.
Marxism
An economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state.
Capitalism
He was a philosopher, political economist, sociologist, humanist and the founder of communism.
Karl Marx
In 1845, Karl Marx and Friedrich Engels published a book called?
“The Communist Manifesto”
He is a German philosopher, journalist, historian, political theorist and revolutionary socialist.
Friedrich Engels
It is based on the concept of public ownership and regulation of the means of production, but individuals may still own property.
Socialism
_________ complain that capitalism necessarily leads to unfair and exploitative concentrations of wealth and power in the hands of the relative few who emerge victorious from free-market competition.
Socialists
It is both a social and political theory, and encompasses Marxist class conflict theory and Marxian economics.
Marxism
Marxism was first publicly formulated in what year?
1848
Karl Marx believed in a __________________to explain relative differences in market prices.
Labor theory of value (LTV)
What are the two major flaws in capitalism?
the chaotic nature of free market competition and the extraction of surplus labor.
What are the Major tenets in Socialism/ Marxian Socialism?
> Historical Materialism
Class Struggle
Capitalism and Exploitation
Means of Production
Transition to Communism
