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The Economic Contributions of Karl Marx

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(5 pp) Of the many labels that have been given to Karl Marx is unfortunate that economist is often not one of them. The best-known label of course, along with his friend and collaborator, Friedrich Engels is socialist and the development of the philosophy that led to modern communism. Yet for this discussion, we will follow Marx' philosophical thought to determine its impact on economics. Bibliography lists 3 sources.

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5 pages (~225 words per page)

File: D0_BBmrxcnb.doc

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creator of the philosophy that led to modern communism. Yet for this discussion we will follow Marx philosophical thought to determine its impact on economics. Marx the Man (1818-83) As the third son of a lawyer, it was in the family plan, that Karl also study the law. Karl was initially more intrigued by the social life of the University, with little attraction toward law, and more leanings to philosophy. Eventually, rejecting the ideas of the popular Helgel, his final degree was one of Doctor of Philosophy. His first formal post was not with the University, but rather as the editor of the Rheinische Zeitung, which the Prussian government suppressed after one year of publication. Moving to Paris in 1844, he met Engels, who became a lifelong friend and financial supporter. While living in poor conditions in London, The Communist Manifesto, written by both Marx and Engels was published in 1848; and Das Kapital (3 volumes, published in 1867, 1885, and 1894). Working Conditions It is sometimes difficult for us to remember how working conditions "used to be." At the beginning of the Industrial Age, people in factories may have worked as much as 18 hour days; a twelve hour day was an average; and the average factory worker life expectancy in London was 40 years. Children were also employed within the factory system often at dangerous jobs, for their ages and abilities. Chapter 10 of Das Kapital (1867) relates many of the stories of these workers. The Philosopher Marx philosophy differed from the Hegel, the philosophical master of the day, purporting "dialectical idealism," which stated that all reality was a creation of the mind or the spirit. In opposition to that idea, Marx supported "dialectical materialism," which believed that everything is material ...

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