Who was Karl Marx? What was his theory of socialism?
Karl Marx was a communist who introduced the concept of socialism.
Karl Marx’s Theory:
- He felt that the industrial society belonged to the capitalists.
- Capitalists owned the capital invested in industries, but the profit was produced by workers.
- He believed that the condition of workers would never improve, as long as profit is taken by the capitalists.
- Marx believed that to free themselves from the capitalists’ exploitation, workers had to form a socialist society where all property was socially controlled.
- This would be a communist society.