Karl Marx advocated the Marxist socialism which had its origin in the conditions created by the Industrial Revolution. He showed that the capitalist system could not by its very nature survive and in due course get replaced by socialism and that the class which would effect the revolution would be the new industrial working-class or “proletariat”
Marxist economics refers to the school of economic though which seeks to analyse he social and economic development of the capitalists economic system.
Karl Marx developed the Economic Interpretation of Theory. This theory refers to: