Political Economy of Marxism

The political economy of Marxism analyzes how economic systems—particularly capitalism—shape society and power. Marx argued that historical social change is driven by class struggles between workers (proletariat) and owners (bourgeoisie). Capitalism profits from workers' labor, leading to economic inequality and exploitation. Marx believed this system would eventually create contradictions, causing it to collapse and be replaced by a classless society. Essentially, Marxism links economic structures with social and political power, emphasizing that economic interests influence laws, policies, and societal progress, with the goal of achieving equality and communal ownership of resources.