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Created with Fabric.js 1.4.5 Karl Marx Karl Marx was a German philosopher, economist, sociologist, and revolutionary socialist. Marx's work in economics laid the basis for much of the current understanding of labour and its relation to capital, and subsequent economic thought. Marxism itself can be recognized as both a political philosophy and a sociology, particularly to the extent it attempts to remain scientific,systematic and objective rather than purely normative and prescriptive. Key concepts of Marxist sociology include: historical materialism, mode of production, the relation between capital and labour. Marxist sociology emerged around late 19th/early 20th century According to Marxist analysis, class conflict within capitalism arises due to intensifying contradictions between highly productive mechanized and socialized production performed by the proletariat, and private ownership and private appropriation of the surplus product in the form of surplus value by a small minority of private owners called the bourgeoisie. Capitalism can no longer sustain the living standards of the population due to its need to compensate for falling rates of profit by driving down wages, cutting social benefits and pursuing military aggression. The socialist system would succeed capitalism as humanity's mode of production through workers' revolution. BIO: in 1843, where he began writing for other radical newspapers and met Friedrich Engels, who would become his lifelong friend and collaborator. Marx actively fought for its implementation, arguing that the working class should carry out organised revolutionary action to topple capitalism and bring about socio-economic change. CONCEPTS
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