Discuss the concept of Marxism

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OyhrBprna

Economics

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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Explanation & Answer

Attached.

Running head: MARXISM

Concept of Marxism
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MARXISM
Introduction
The theory of Karl Marx in economics is popular. The class theory of Marx highlights
that an individual's position in a class is determined by his or role in the operations. According to
him the individuals who shares the common interest are grouped together to form a class. When
the Marx's theory is taken into consideration it follows a capitalist system which is sometimes
beneficial to the organization or population and sometimes can cause harm. The implementation
Karl Marx, the proponent of Marxism believes in socialistic pattern of society where the gap
between haves and haves not should be minimized. In his social philosophy and dialectical
mate...


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