Marxism is a political and economic philosophy based on the ideas of Karl Marx. The spelling of the word is based on the surname of its founder, Marx, with the addition of the suffix '-ism', which denotes a belief or philosophy. The IPA phonetic transcription of Marxism is /ˈmɑːksɪzəm/, with stress on the first syllable. The 'x' represents the voiceless velar fricative sound, and the 's' is pronounced as a voiceless alveolar sibilant, followed by the vowel 'i'.
Marxism is a socio-economic and political theory that was developed by Karl Marx and Friedrich Engels in the 19th century. It represents a set of philosophical, economic, and sociopolitical principles aimed at analyzing and transforming society to achieve a classless and egalitarian society.
At its core, Marxism views society as a product of social and economic conflict between the bourgeoisie (the capitalist ruling class that owns the means of production) and the proletariat (the working class). Marxism argues that the primary driver of historical change is the struggle between these two classes, with the bourgeoisie exploiting the labor and surplus value generated by the proletariat.
The theory emphasizes the importance of economic factors and material conditions in shaping society and history. In Marxist terms, the means of production, such as factories, land, and resources, should be collectively owned by the people, rather than being privately owned and controlled by a few individuals.
Marxism envisages a transition from capitalism to communism, where the state and social classes would cease to exist, resulting in a society where resources and wealth are equitably distributed. It advocates for social revolutions and workers' empowerment, as they are seen as the catalysts for overthrowing capitalism and leading to a classless society.
Critics often debate the feasibility and practicality of these ideas, particularly with regards to central planning, economic efficiency, and individual freedoms. Nevertheless, Marxism remains an influential and enduring framework for analyzing socieconomics, class struggle, and social change.
The word "Marxism" is derived from the name of Karl Marx, a German philosopher, economist, and political theorist who developed the ideology. Marx co-authored "The Communist Manifesto" and is considered the father of Marxism. The term was first used in 1882, two years after Marx's death, to describe his ideas and theories. The word "Marxism" combines his surname "Marx" with the suffix "-ism" denoting a particular doctrine, system, or ideology.