Final answer:
Karl Marx is associated with Marxism, a critical analysis of capitalism proposing a socialist and eventually communist society. His work, including the Communist Manifesto, advocates for a classless society and public ownership of production means. Marxism predicts a proletariat revolution overthrowing capitalism to achieve social equality.
Step-by-step explanation:
Karl Marx is most clearly associated with the political economy of Marxism. Marxism, a theory developed alongside Friedrich Engels, presents a critical analysis of capitalism and a theory of social change. Marx's seminal work, the Communist Manifesto.
Coauthored with Engels, is a pivotal political manuscript that advocates for a classless society wherein the public owns the means of production, superseding the capitalist economic system characterized by private ownership.The foundation of Marx's critique of capitalism resides in the notion that the bourgeoisie, being the owners of the means of production.
Exploit the working class, or proletariat, by paying wages that are significantly less than the value of their labor. This exploitation results in the accumulation of wealth and political power among the bourgeoisie, leading to social inequalities.
Marx envisioned that eventually, the proletariat would rise in revolution, overthrowing the capitalist system to establish a socialism and then leading to communism, where there is no class division.Marx's theories were outlined in depth in his work, Das Kapital, where he delved into the intricacies of capitalist economies and justified the need for a
Revolutionary change to a more equitable social structure. The ideology of Marxism supports the establishment of a socialist state as a transitional phase towards full communism, a stage at which economic and labor contributions are distributed without discrimination, and a classless society prevails.