Karl Marx s Theory Of Capitalism And Communism - 2258 Words

Anyone who is anyone can easily state that Karl Marx, born in 1818 and died in 1883, is one of the founders of sociology, seeing as Marxism was named after his theories and thinking. (Biography) However he also developed and constructed many theories when talking about the economy, philosophy and history and is best known as a communist (Biography). A great part of his life was used writing two of his well-known books, Das Kapital, written in 1867 (Marx, 2012: xii), and The Communist Manifesto, written in 1848 (Marx and Engels, 2013: 8). Where these works of art surround the topics and Karl Marx’s notion of capitalism and communism. To answer the questions at hand, why does Marx believe that capitalism is set to destroy itself, and, are his predictions believable in light of the sociological evidence available to us, one must first define capitalism. According to the Oxford Dictionary, capitalism is â€Å"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† (Oxford Dictionary). On the other hand, in more sociological terms it is more complicated than that. Capitalism according to the Dictionary of Sociology is â€Å"a system of wage-labor and commodity production for sale, exchange, and profit, rather than for the immediate need of the producers† (Dictionary of Sociology, 2009: 59). And according to Marx, capitalism is â€Å"the socio-economic system where social relations are based on commoditiesShow MoreRelatedKarl Marx And The Great Philosopher Essay988 Words   |  4 PagesKarl Marx was born in Trier, Prussia in 1818 to a Jewish family, but despite his baptism at age 6, he later became an atheist. 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