Marxian Theory of Economic Development
MARXIAN THEORY OF ECONOMIC DEVELOPMENT
Karl Marx is one of the few thinkers in History who has had an influence on millions of people, ranked with Christ and Mohammed, if we are to judge him by the number of followers. He predicted the inevitable doom of capitalism and imposed on his ideas that communism has built its edifice (large structure). He based his predictions on a sweeping analysis of the process of capitalists’ economic dvlpt.
MARXIAN INTERPRETATION OF HISTORY
General framework of Mark’s analysis is a unique materialistic interpretation of History that boldly attempts to explain the foundations and evolutionary cause of social life. He attempts to explain that all historical events have been influenced by economic conditions. The key concepts in his explanation are mode of production and relations of prodn.
The term ‘mode of prod.’ refers to a particular social arrangement of prod. Corresponding to a particular mode of prod., there is an appropriate set of relations of prod. (Property relations).
These relations of prod define the character of a society’s class structure. According to Marx, the class structure in every society except socialism sums chiefly of a dominant directing class and an oppressed class. The mode of prod determines the economic, social and political super-structure of society.
Evolution in a society occurs because the material forces of prod, i.e., the mode of prod changes. In the early stages of a particular social system, the material forces of prod are compatible with the relations of prod. & the super-structure of ideas and institutions. But gradually, the mode of prod changes, whereas changes in the relations of prod & the cultural super-structure lag behind. All history according to Marx follows this cycle of evolution.
Marx and Engle discern 4 social systems in History: 1. Primitive Communism 2. The Ancient Class State 3. Feudalism 4. Capitalism
All these systems, except first, have witnessed class
Karl Marx is one of the few thinkers in History who has had an influence on millions of people, ranked with Christ and Mohammed, if we are to judge him by the number of followers. He predicted the inevitable doom of capitalism and imposed on his ideas that communism has built its edifice (large structure). He based his predictions on a sweeping analysis of the process of capitalists’ economic dvlpt.
MARXIAN INTERPRETATION OF HISTORY
General framework of Mark’s analysis is a unique materialistic interpretation of History that boldly attempts to explain the foundations and evolutionary cause of social life. He attempts to explain that all historical events have been influenced by economic conditions. The key concepts in his explanation are mode of production and relations of prodn.
The term ‘mode of prod.’ refers to a particular social arrangement of prod. Corresponding to a particular mode of prod., there is an appropriate set of relations of prod. (Property relations).
These relations of prod define the character of a society’s class structure. According to Marx, the class structure in every society except socialism sums chiefly of a dominant directing class and an oppressed class. The mode of prod determines the economic, social and political super-structure of society.
Evolution in a society occurs because the material forces of prod, i.e., the mode of prod changes. In the early stages of a particular social system, the material forces of prod are compatible with the relations of prod. & the super-structure of ideas and institutions. But gradually, the mode of prod changes, whereas changes in the relations of prod & the cultural super-structure lag behind. All history according to Marx follows this cycle of evolution.
Marx and Engle discern 4 social systems in History: 1. Primitive Communism 2. The Ancient Class State 3. Feudalism 4. Capitalism
All these systems, except first, have witnessed class