Karl Marx: Economic Revolutionary

Karl Marx: Economic Revolutionary

by carolyn smarr

​A New View of Economics

​Millions of lives were affected by the work of Karl Marx.

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​Governments were toppled and new political alliances were forged on the strength of his arguments.

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​What was it in the thousands of difficult to read pages he wrote that fueled revolutions?

​To understand how it all began you must understand the history of the industrial revolution

• ​The Industrial Revolution changed the world by increasing production with the use of machines and factories

• ​The world as we know it today is thanks to the advancements of technology in the industrial revolution

• ​Capitalism allowed business owners to work freely in their own self interest

• ​Economies and Wealth grew rapidly

• ​Factory owners got very rich while the workers in the factories were treated very poorly and received low wages

• ​https://www.youtube.com/watch?v=hv2JdhMc144

Multiple Choice

True or False: The Industrial Revolution gave way to urbanization, or people moving to cities from the countryside

• True

• False

Multiple Choice

As Adam Smith predicted, allowing people to act in their own self interest did create economic growth and wealth.

• True

• False

Multiple Choice

Working conditions were good for factory workers at this time.

• True

• False

Multiple Choice

It would be easy for a factory worker to start his own business and become rich.

• True

• False

Multiple Choice

Women and Children worked long hours for little pay in the factories and mines.

• True

• False

​So, Who was Karl Marx?

What does any of this have to do with him?

• ​Born in what is now Germany in 1818

• ​Grew up middle-class

• ​Father was a lawyer

• ​He became involved in radical politics

• ​He was exiled from his country (forced to leave)

• ​During travels met Fredrich Engels-son of a factory owner

​Marx and Engels

• ​Eventually settling in London

• ​Through Engels, Marx became aware of the struggles of the working class

• ​He undertook a deep study of Economics

• ​He concluded that the Industrial Revolution had created a system of wage slavery

​Marx Said:

• ​Factory owners looked upon labor as just another commodity that could be bought

• ​They then used these laborers to convert other resources into products

• ​Factoruy owners made profit by selling products at a higher price than the cost of labor and other resources

• ​Keeping wages low they could make even greater profits

• ​The whole system Marx said was based on the exploitation of workers

Multiple Choice

Karl Marx was German born but selltled in England later in life.

• True

• False

Multiple Choice

True or False: Karl Marx was a factory owner.

• True

• False

Multiple Choice

Karl Mark studied Economics.

• True

• False

• Economics did not yet exsist

​Marx Beliefs and his book, The Communist Manifesto

• ​Rising tension between worker and owner was inevitable ( would happen)

• ​Over time more and more wealth would be concentrated in fewer hands

• ​Disatisfied workers would revolt and create a new society without economic classes

• ​In 1848 Marx and Engels laid out these ideas in their book The Communist Manifesto

• ​He would later publish a further study of these topics and criticism of capitalism in his later work, Das Kapital

Multiple Select

Which of Marx's predictions came true?

• There would be revolutions

• The workers would create a new Classless Society

• Wealth would become concentrated in  fewer hands-division of wealth

• That a economy would be created where everyone was equal and there was no government control

Multiple Choice

Karl Marx's aim was to protect and make equal exploited and poor workers.

• True

• False

​Many Countries tried to embrace but communism fell into disfavor

• ​No country could ever achieve true communism

• ​In practice communism did not ever really work

• ​In practice the governments controlled everything

• ​System collapsed in the 1990's

• ​Food shortages and other problems occured

• ​Example: Cuba