The Formation of the Economic Thought of Karl Marx

Karl Marx's economic thought evolved from a critique of capitalism and its effects on society. He argued that capitalism inherently leads to class struggle between the bourgeoisie (owners) and the proletariat (workers). Marx believed that labor is the source of value and that exploitation occurs when workers do not receive full compensation for their efforts. He envisioned a classless society where the means of production are collectively owned. His ideas aimed to highlight inequalities and suggest a revolutionary path towards a fairer economic system, laying the foundation for later socialist and communist movements.