Marxism and Marxist Political Economy Flashcards
What is Marxism?
Marxism is a socio-economic theory by Karl Marx, focusing on class struggle and the critique of capitalism.
Define the Marxist concept of “mode of production.”
It refers to the economic system, including productive forces and relations of production.
What is the main critique of capitalism in Marxism?
Capitalism exploits labor by allowing capitalists to extract surplus value from workers.
How does Marxism define class struggle?
It is the conflict between the bourgeoisie (owners) and the proletariat (workers) over economic power.
Name one key difference between Classical and Marxist economics.
Classical economics focuses on market mechanisms, while Marxist economics emphasizes power dynamics and exploitation.
What is surplus value in Marxist economics?
The difference between the value produced by labor and the wages paid to workers.
How does Marxism view historical development?
As a series of class struggles leading from feudalism to capitalism and eventually socialism/communism.
What does Marx mean by “alienation”?
Workers are alienated from their labor, products, and themselves under capitalism.
How does Marxism view the role of the state?
The state serves the interests of the ruling class, maintaining their dominance.
What is the ultimate goal of Marxist political economy?
To achieve a classless society through socialism and eventually communism.
