The idea of Marxian economics originally came from Karl Marx, a philosopher, economist, and author born in the 1800s. He was responsible for co-writing The Communist Manifesto, and writing the three-part series called Das Kapital. He was alive for the publishing of The Communist Manifesto and the first installment of Das Kapital, buthe passed away before the other ones were published. They were published after his passing in 1883. His principal belief was that wages were being forced down by specialization and the growing population. His ideas were mostly studied through one of his texts called Das Capital which was published in 1867. His ideas later became known as Marxian economics; as they earned their title from Marx’s last name.Marxism …show more content…
Marxism studied what effect capitalism has on productivity, labor, and economic development. He believed that taking the control of the economy away from the people, and giving it to the government would be the best way to stimulate economic growth. He felt that the gap between the capitalists and working class is too large, and the capitalists are taking advantage of the working class. He sympathized with their struggles, and desired to provide these workers with a voice against the upper-class capitalists who were repressing them. His pieces were written from the view of a worker, and this made the working class feel heard despite the fact that, rather ironically, Karl Marx remained unemployed for a good majority of his life. Karl Marx ideas would go on to be used by many future communists, such as the likes of Joseph Stalin and Vladimir Lenin. We now know that communism tends to destroy itself, but at the time, his ideas were revolutionary. His concept called the ‘Labor Theory of Value’ was first to attempt to explain why goods cost certain amounts. His idea comes down to the fact that the cost was based on the amount of labor needed to produce a certain