Karl Marx was an economist and philosopher. He was born in Prussia (Germany) to a middle-class family in 1818. As an adult, Marx spent much of his life in London, England, with Friedrich Engels and published various works. He also married Westphalen, Marx and von Westphalen had seven children, but poor conditions caused only three survived to adulthood. His most well-known was the 1848 pamphlet The Communist Manifesto. His work has since influenced intellectual, economic, and political history. Marx has been described as one of the most influential figures in history, and his work has been both accepted and criticised. His work in economics helped the understanding of labor and its relation to capital. Many intellectuals, labour unions, artists …show more content…
The Communist Manifesto explains what Communism wants to accomplish. Class struggles are one of the main focuses and cause historical developments. Relationships are formed between the classes, the haves and have nots, and eventually there is a revolution because the upper class abuses the lower classes. After the revolution a new class rules and the process repeats itself in capitalism. This is why the Manifesto argues that capitalism is unstable. So Marx wrote that classes should be leveled out and everyone be kept in the same social class. However, there would need to be major changes in government for this to occur. The Manifesto is broken up into four sections that all talk about the relationships between classes and the flaws that are a present in …show more content…
Karl Marx’s ideas still have a strong presence in our modern day economy. He predicted many things that happened to our modern day economy. The flaws of capitalism were part of Marx 's writings. He argued that the drive for profits would lead companies change their workplaces, producing more and more goods while squeezing workers ' wages until they could no longer purchase the products they created. Sure enough, modern historical events can be traced back to stocks and credit swaps. We produce until no one purchases our goods. It 's what made the housing market crash in 2008. Decades of inequality reduced incomes, which led more and more Americans taking on debt. When there was no more borrowing allowed, it fell apart just as Marx knew it