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The Father Of Capitalism And Marxism By Karl Marx

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Karl Heinrich Marx was a German philosopher, economist, social scientist, sociologist, historian, journalist and revolutionary socialist. Marx was born on 5 May 1818 in Germany and died on 14 March 1883 in London. Karl Marx is regarded to be one of the founding fathers of Sociology. Capitalism, in layman’s term means “an economic, political, and social system in which property, business, and industry are privately owned, directed towards making the greatest possible profits for successful organizations and people.” (Cambridge Dictionary, 2014). Capitalism, according to Karl Marx is divided into two major social classes: the Bourgeoisie and the Proletariat. The Bourgeoisie, which is the minority of the class system, own the means of production such as land, machinery, factories and raw materials whereas the Proletariat, which is the majority of the class system, having no means of their own production and have to work to earn wage for a living. Karl Marx has his own theory that history is made up by class struggle which he mentioned in his book – Manifesto of the Communist Party: “The history of all hitherto existing society is the history of class struggles.” (Marx and Engels, 1848) and had predicted that the Proletariat would lead a revolution to overthrow the Bourgeoisie. Karl Marx believed that there will be intrinsic conflict like exploitation, alienation of labour and commodity fetishism between both of the classes. In this essay, I will elaborate more on the above

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