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Marxism and Keynesianism is a method of understanding and comparing the works of influential economists John Maynard Keynes and Karl Marx.Both men's works has fostered respective schools of economic thought (Marxian economics and Keynesian economics) that have had significant influence in various academic circles as well as in influencing government policy of various states.
In Marxist theory, the state is "the institution of organised violence which is used by the ruling class of a country to maintain the conditions of its rule. Thus, it is only in a society which is divided between hostile social classes that the state exists". [15] The state is seen as a mechanism dominated by the interests of the ruling class.
This has the important consequence that the whole organization of the production process is reshaped and reorganized to conform with economic rationality as bounded by capitalism, which is expressed in price relationships between inputs and outputs (wages, non-labor factor costs, sales, profits) rather than the larger rational context faced by ...
Bolshevik communists saw these differences as advancements of Marxism made by Lenin. After Lenin's death, his ideology and contributions to Marxist theory were termed "Marxism–Leninism", or sometimes only "Leninism". Marxism–Leninism soon became the official name for the ideology of the Comintern and of Communist parties around the world.
This is an accepted version of this page This is the latest accepted revision, reviewed on 4 March 2025. Economic and sociopolitical worldview For the political ideology commonly associated with states governed by communist parties, see Marxism–Leninism. Karl Marx, after whom Marxism is named. Friedrich Engels, who co-developed Marxism. Marxism is a political philosophy and method of ...
Marxian economics—particularly in academia—is distinguished from Marxism as a political ideology, as well as from the normative aspects of Marxist thought: this reflects the view that Marx's original approach to understanding economics and economic development is intellectually independent from his own advocacy of revolutionary socialism.
Differential ground rent and absolute ground rent are concepts used by Karl Marx [1] in the third volume of Das Kapital [2] to explain how the capitalist mode of production would operate in agricultural production, [3] under the condition where most agricultural land was owned by a social class of land-owners [4] who could obtain rent income from farm production. [5]
The philosophical difference between Maoism and Marxism–Leninism is that the peasantry are the revolutionary vanguard in pre-industrial societies rather than the proletariat. This updating and adaptation of Marxism–Leninism to Chinese conditions in which revolutionary praxis is primary and ideological orthodoxy is secondary represents urban ...