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Explain What Does Marx Mean By The Statement That Socialism Will Replace Capitalism

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Marx Social Conflict Theory says that individual and groups of social classes in society occupy different amount of material and non-material resources. These resources include wealthy and powerful vs the poor. Marx says that the powerful groups use their power to usurp the rights and resources of the poor or less power class of the society.
Proletariat: They owns labour power, who are capable to work for those who are the powerful and own resources. This calss work with their hand, bodies and minds to make a living. As they have no other ownership so inorder to survive and buy means of living for themselves and their families, they must find employment work with an employer.
Proletariat. The proletariat are owners of labour power (the …show more content…

The bourgeoisie class or capitalists are the owners of capital. They purchase and abuse labour resources using their high position and power to their advantage and to the disadvantage of the poor labored class and hence are able to increase their wealth and power. Being wealthy is, in itself, not sufficient to make one a capitalist (e.g. managers in the state sector or landlords). What is necessary is the active role of using this wealth to make it self-expansive through employment and exploitation of labour.
2. What does Marx mean by the statement that socialism will replace capitalism? What is capitalism? What is socialism?
Capitalism and Communism, are two different form of political and economic ideologies. In Communism the community or society solely owns the resources or the means of production and believe in fair and equal distribution of wealth and resources by all people living in that commune.
Capitalism: On the other hand, in capitalism, the resources or the means of production lies with a private owner, a free market economy and uneven distribution of wealth and power with little government interference and control. For Communists, the society is above individuals. But for capitalists, individual freedom is above the state or society. While capitalism is a self regulated economic system, communism is a government run

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