What was the basic principle of Marxist theory?

1) Democracy is the basic principle of this theory. 2)Self emancipation is also a vital principle of the Marxist theory. 3) Opposition to the economic system which believes in the inequalities.

What are the key concepts of Marxism?

Key concepts covered include: the dialectic, materialism, commodities, capital, capitalism, labour, surplus-value, the working class, alienation, means of communication, the general intellect, ideology, socialism, communism, and class struggles.

What is the Marxist theory in simple terms?

The definition of Marxism is the theory of Karl Marx which says that society’s classes are the cause of struggle and that society should have no classes. An example of Marxism is replacing private ownership with co-operative ownership. YourDictionary definition and usage example. “Marxism.”.

What are the weaknesses of Marxist theory?

The following are the weaknesses of Marxian economic thought: Marx’s materialistic interpretation of history is inadequate and one-sided. History of man is moulded by many factors. The whole Marxian analysis is built on the theory of surplus value. However in the real world, we are concerned with tangible prices and not with value. Marx has proved to be a false prophet.

What are the Marxist principles?

Theory of Equality: Equality implies the uprooting of economic classes. All should work equally and receive equal wages.

What are the assumptions of Marxist theories?

Marxism seeks to explain social phenomena within any given society by analyzing the material conditions and economic activities required to fulfill human material needs. It assumes that the form of economic organization, or mode of production, influences all other social phenomena including wider social relations, political institutions, legal systems, cultural systems, aesthetics and ideologies.