Business Finance
Discuss the concept of Marxism

Question Description

Please explain the concept of Marxism. Make sure to discuss its pros and cons in society. Give a detailed answer, cite references when possible. This has to be at least 500 words.

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Concepts of Marxism
Introduction defines Marxism as “the system of economic and political thought
developed by Karl Marx, along with Friedrich Engles, especially the doctrine that the state
throughout history has been a device for the exploitation of the masses by a dominant
class, that class struggle as been the main agency of historical change, and that the
capitalist system, containing from the first the seeds of its own decay, will inevitably, after
the period of the dictatorship of the proletariat, be superseded by a socialist order and a
classless society.”
Many times, Marxism is considered one-in-the-same as both communism and
socialism. This, however, is far from the truth. While both communism and socialism find
commonality with Marxism in core beliefs of role of the State, it should be no...


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