Exam 22: An Age of Nationalism and Realism, 1850–1871.

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Marxism is a social, political, and economic philosophy named after Karl Marx, which examines the effect of capitalism on labor, productivity, and economic development and argues for a worker revolution to overturn capitalism in favor of communism. Marxism posits that the struggle between social classes, specifically between the bourgeoisie (capitalist class who own the means of production) and the proletariat (working class who sell their labor), is a central force in the history of human societies.

Key components of Marxism include:

1. Historical Materialism: This is the Marxist concept that the economic base of society influences all other aspects of it, including social structures, political institutions, and cultural beliefs. Marxists believe that history progresses through a series of stages characterized by class struggle, leading to the eventual overthrow of capitalism by the proletariat.

2. Class Struggle: According to Marxism, society is fundamentally divided into classes with opposing interests. The bourgeoisie seeks to maximize profits and maintain its economic dominance, while the proletariat seeks better wages, working conditions, and ultimately, the end of exploitation.

3. Labor Theory of Value: Marx argued that the value of a commodity is determined by the amount of socially necessary labor time invested in its production. However, under capitalism, workers are paid less than the value they produce, leading to surplus value, which is the source of profit for the capitalist.

4. Alienation: Marx believed that under capitalism, workers are alienated from their labor because they do not own the means of production or control the process or products of their work, leading to a sense of powerlessness and estrangement from their own humanity.

5. Revolution: Marxism holds that the internal contradictions of capitalism will inevitably lead to its downfall. The proletariat will become conscious of their exploitation and unite to overthrow the bourgeoisie in a social revolution, leading to the establishment of a socialist state where the means of production are communally owned.

6. Dictatorship of the Proletariat: After the revolution, Marxists believe that a transitional state will be necessary to govern in the interests of the working class and to safeguard against counter-revolutionary activities. During this period, the state is expected to wither away as the need for coercive control disappears with the abolition of classes.

7. Communism: The ultimate goal of Marxism is the establishment of a classless, stateless society where the means of production are owned collectively, and each person contributes according to their ability and receives according to their need. This is the final phase following the socialist stage and is characterized by the absence of exploitation, scarcity, and social conflict.

Marxism has been the foundation for various ideologies and has been adapted and interpreted in many ways, leading to a variety of Marxist schools of thought. It has had a profound impact on global politics, particularly in the 20th century, with the establishment of Marxist states in countries such as Russia, China, Cuba, and others. However, it has also faced criticism and has been subject to numerous debates and challenges.