Biography of Karl Marx
Biography of Karl Marx
Personal Background
Karl Marx was as influential socialist thinker of the nineteenth century (Sperber, 2014). People consider him a philosopher, revolutionary, historian, and a great social scientist. While living in Trier, Marx received classical education studying law in Bonn and Berlin. However, he had a strong interest in philosophy made him turn away from studying law (Wheen, 2001). During his years as a student, Marx was introduced to Feuerbach and Hegel’s ideas. He received a doctorate in philosophy in 1841 from University of Jena (Wheen, 2001). He worked for a short period as an editor for a Cologne-based liberal newspaper. Together with his wife, Marx moved to Paris in 1843. During that time, Paris was busting with radical thought. While in Paris, Marx grew close to Friedrich Engels. He later moved to London in 1849 where he would continue writing, inspired by works of Adam Smith and David Ricardo (Wheen, 2001).
Upon the request of the Communist League, Engels and Marx wrote the “The Communist Manifesto, “which was published in 1848. The text established the principles that would guide the evolution of communism (Wheen, 2001). Karl Maintained that history was characterized by a series of class struggles between the proletariat and capital owners. Furthermore, Marx argued that the concentration of capital and wealth in the hands of few people dissatisfied proletariat’s ranks, and such a trend would lead to a bloody revolution and a classless society (Sperber, 2014). Marx was not merely an economist but an influential figure in various disciplines such as history, sociology, philosophy, and political science. Marx was of the opinion that capitalism contains seeds that would lead to its destruction. The class wars would inevitably lead to a communist society (Wheen, 2001). The evolution of communism started with feudalism and passed through capitalism and socialism. In “Capital,” Marx focuses on economic causes. The main components of Marx’s economic thought include the declining profit rates, the labour theory of value and an increase in wealth concentration (Wheen, 2001). Marx suggests that socialism would take over from capitalism through the socialization of production processes.
Awards and Recognition
Marx received a doctorate in philosophy in 1841 from the University of Jena. The ideas of Karl Marx had affected intellectual thought and world politics profoundly. His idea of political economy would later be referred to as Marxism. Marxism is a fusion of English, Economics, and Hegelism (Wheen, 2001).
The Marxian school of economics encompasses economic thought based on the classical political economy’s critique that both Engels and Marx expounded on (McLellan, 2006). Marxian economic analyses the crisis in the capitalist economic system and focuses on the role of surplus value and surplus production in different kinds of economic systems. It examines economic value’s origin and nature as well as the impact that class struggles have on economic evolution and political processes. Neoclassicalcal, Keynesian, and Marxist economics are all grounded in the Classical Political Economy (Wheen, 2001). Marxists economics does not fit with what the American tradition deems as the principles of economics. After examining the society, Marx developed a view that capitalists’ wealth was widely based on underpaid labour. In this case, the difference between wages paid and labour value resulted in the accumulation of capital (Wheen, 2001).
Contributions to the study of Economics
Karl Marx’s major works, such as The Communist Manifesto and Das Kapital, serve as his key contributions to the study of economics. Due to its importance, the Das Kapital has been translated into French, English, German, and Russian, and its copies sold across the globe. Marx held a firm belief that capitalism was an economic structure undergoing evolution (McLellan, 2006). His economic views predicted the eventual collapse of capitalism. Marxian economics suggest that the abuse and disenfranchisement of workers lead to the instability of capitalism (Sperber, 2014).
References
McLellan, D. (2006). Karl Marx: A biography. New York: Prentice Hall Press.
Sperber, J. (2014). Karl Marx: A nineteenth-century life. Oxford: Oxford University Press.
Wheen, F. (2001). Karl Marx: A life. Cornwall: Polity Press.
