Karl Marx

Karl Marx (1818–83) and Friedrich Engels (1820–95)

Masters of Money Documentary

History of ideas Podcast Marx and Engels 

Marx, a German philosopher, economist, and political thinker, formulated a theory of history emphasizing the significance of economic life and the circumstances in which individuals create and sustain their resources. He posited that the economic 'base', primarily the 'mode of production' or economic framework, shapes the ideological 'structure'. Marx believed that history progresses through a dialectical process in which contradictions within each mode of production generate class conflict. He contended that all class-based societies, including capitalism, are destined to disintegrate, leading to the emergence of a classless, communist society. Marx's seminal work, the three-volume Capital (1867, 1885, and 1894), meticulously examines the capitalist production process and is often viewed as being rooted in economic determinism. Notably, The Communist Manifesto (co-authored with Engels) is Marx's most renowned and easily accessible piece.

Karl Marx and Frederick Engels were German exiles living in the UK in the 1870s .

A German industrialist and life-long friend and collaborator of Marx, Engels elaborated Marx’s ideas and theories for the benefit of the growing socialist movement. By emphasising the role of the dialectic as a force operating in both social life and nature, he helped to establish dialectical materialism as a distinct brand of Marxism, portraying Marxism in terms of a specific set of historical laws. Engels’ writings include The Condition of the Working Class in England (1845), a historical account of the industrial proletariat in Manchester, and The Origins of the Family, Private Property and the State (1884), which analysed the institution of monogamous marriage in terms of the workings of the capitalist class system. Engels’ writings were highly influential in popularising the ideas of Marx, but they have also been criticised for advancing a mechanistic and determinist interpretation of Marxism that, some argue, is not faithful to Marx himself.

 Marx and Engels contended in The Communist Manifesto (1848) that a revolution was unavoidable due to an inherent contradiction within capitalism. They maintained that their brand of socialism steered clear of the idealistic visions of previous iterations, with Marx highlighting the concept of historical materialism as a methodical examination of society rooted in historical and dialectical analysis. They posited that socialism's inevitability could be substantiated rather than merely sought after. The duo argued that capitalism, akin to preceding historical eras such as feudalism, carries the seeds of its demise. Marx asserted that within capitalist societies, a fundamental schism exists between two conflicting classes: the proletariat and the bourgeoisie. These groups' interests are diametrically opposed, as the bourgeoisie's pursuit of profit hinges on the exploitation of the proletariat. Marx introduced the notion of 'surplus value' to elucidate how workers are systematically underpaid relative to the actual value of their labor to drive profits. This dynamic results in workers feeling disconnected from their output, lacking ownership, and often unable to afford the goods they produce, a concept termed alienation. The contemporary treatment of laborers in industries like garment manufacturing in countries such as China and Bangladesh exemplifies this phenomenon. Marx adapted the dialectical approach from philosopher G.W.F. Hegel but tailored it to underpin an economic/materialist argument asserting that conflicting forces exist within societies, notably the bourgeoisie and proletariat. He prophesied that once the proletariat attained class consciousness, a clash between these factions would ensue, ushering in a new historical epoch. Marx identified class struggle as the chief impetus driving historical progression, whether manifested through bourgeoisie-proletariat or slave-slaveowner dynamics. His rationale was rooted in empirical evidence and factual analysis rather than wishful conjecture. Accordingly, revolution was deemed inevitable, leading to the dismantling of capitalism. Marx's critique of capitalism endures as prescient, as evidenced by his anticipation of globalization and insights into the system's inherent volatility, disproportionately affecting the impoverished during economic downturns. Marxists advocate for the overthrow of capitalism in favor of communal ownership and substantial economic parity. The vision entails a post-revolutionary society devoid of class divisions and state apparatus, characterized by universal prosperity and true equality of outcomes, resulting in liberation for all. However, a transitional period marked by a dictatorship of the proletariat would precede this utopian ideal to safeguard against counterrevolution. The ultimate goal, as envisioned, entails the gradual dissolution of the state apparatus, akin to anarchism, a concept largely unattained by socialist revolutions in the twentieth century. In The Origin of the Family, Private Property and the State (1884), Engels posited that the nuclear family structure was integral to profit maximization and that the subjugation of women constituted a foundational element of capitalist society.