Born in Prussia on May 5, 1818, Karl Marx began exploring sociopolitical theories at university among the Young Hegelians. He became a journalist, and his socialist writings would get him expelled from Germany and France. In 1848, he published The Communist Manifesto with Friedrich Engels and was exiled to London, where he wrote the first volume of Das Kapital and lived the remainder of his life.
Marx rejects the salient features of the classical model of economic growth. He presents his own theory which has a social and historical framework where the economic forces play an important role. Marx says that the outcome of stationary state in classical model is not a natural process, rather it is due to human arrangements. Marx says that in capitalism
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5- Capital: Critique of Political Economy This Marxist masterpiece is composed of three parts, the first of which was published in 1867, the other two parts did so once Marx had already died, with Engels' compilation of all the material he left written.
In it, he explains the theory of surplus value where the capitalist class gives the working class only the just and necessary to survive, in this way it remains with the value that has produced the worker that is much greater than he has paid.
This value is what is known as surplus value, which is what increases the wealth of the capitalist.
6- Ideas of the First International This organization was founded 28 of September of 1864 to the group to the workers of the European countries.
Its purpose was to end the exploitation of the workers by the bourgeoisie.
In the inaugural Manifesto Karl Marx, he ended with the cry of "Proletarians of all countries, unite!" Just as he already did in The Communist
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To this phenomenon, Karl Marx called it as fetishism, where objects become commodities.
10- The Dialectic method the dialectical basis of Karl Marx was the Hegelian.
His conception of dialectical logic was linked to the history of society.
The fundamental key of the dialectical method is to understand society as a whole and its own historical development is given by its contradictions.
Marx model is based upon following dynamic laws: Law of Capitalistic Accumulation: According to this law the prime desire of the capitalist class is to accumulate more and more capital.
Law of Falling Tendency of Rate of Profit: According to Marx the profits have a tendency to come down and it plays an important role in the break down of the capitalistic economy.
Law of Concentration of Capital: Marx says that in a capitalistic economy the capital is concentrated and centralized in a few hands. As a result, the big firms will throw away the small firms, monopolies will grow and power will be concentrated in few hands.
Law of Increasing Pauperization: According to this law as the capitalism grows the miseries and agonies of laboring class