Topics: Karl Marx, Capitalism, Communism Pages: 2 (279 words) Published: April 16, 2013
Socialism is an economic concept that advocates public ownership of all resources. The production and distribution of resources with a society are then controlled by members of that society collectively or by the government that represents that society.

Socialism developed as a political ideology in the nineteenth century as a reaction to industrial injustice, labor exploitation, and unemployment in Europe. For Karl Marx, who helped establish and define the modern theory of socialism, societal problems were rooted in an economic system which relied on the private ownership of property, and led to wealth remaining in the hands of a few and at the cost of the laborers who were the source of wealth. [pic]

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Karl Marx

Socialism, for Marx, is a society which serves the needs of man. But, many will ask, is not that exactly what modern capitalism does? Are not our big corporations most eager to serve the needs of man? And are the big advertising companies not reconnaissance parties which, by means of great efforts, from surveys to "motivation analysis," try to find out what the needs of man are? Indeed, one can understand the concept of socialism only if one understands Marx's distinction between the true needs of man, and the synthetic, artificially produced needs of man

Article: Erich Fromm 1961

Title: Marx’s Concept of Man

First published: Publisher: Frederick Ungar Publishing: New York., 1961. pp. 1 – 85

Transcribed: by Sam Berner
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