Marxism, in Thought and Application At heart, all economic theories are born of common roots; the question of how society is operating, and whether or not there is room for improvement. All economic theories try to address the basic question of how an economy can, and should, be maintained. One of the most interesting economic philosophies is Marxism. The fact that economic theories can share common roots is especially evident in Marxism; It even shares a basic premise of laissez-faire with capitalism, a philosophy it directly contradicts (Sowell 12). In studying Marxism, two basic necessities must be addressed; the nature of Marxism and its basis, and the political and economic implications of Marxism.Curiously, Marxism was only partially originated by Karl Marx. A great deal of the philosophy behind and rationalization for Marxism- perhaps even the larger part of that thought- was from Marx's greatest contemporary, Friedrich Engels. Engels and Marx worked together to write The Communist Manifesto, and, after Marx's death, Engels became the surviving originator of Marxism; it was he who carried Marx's torch, and who published the latter of Marx's philosophies- though whether or not he was true to Marx's beliefs, and whether he altered them slightly according to his own, no one can be sure (18). Despite this, however, Marx's beliefs were relatively clearly expressed and published, beginning, in part, with the Manifesto."The history of all hitherto existing society is the history of class struggles" (Marx, The Communist Manifesto 9). In that statement, the opening sentence of the Manifesto, Marx clearly defines the basis of his theories. Marxist economics are based on Marxist philosophy, and Marxist philosophy is based entirely on that statement. Marx believed that society was constantly faced with an unending struggle between the bourgeoisie and the proletariat; the upper class of usurpers and extortionists, and the low...
