Critique of political economy

Karl Marx (German: [ˈkaʁl ˈmaʁks]; 5 May 1818 – 14 March 1883) was a German philosopher, political theorist, economist, journalist, and revolutionary socialist. He is best-known for the 1848 pamphlet The Communist Manifesto (written with Friedrich Engels), and his three-volume Das Kapital (1867–1894), a critique of classical political economy which employs his theory of historical materialism in an analysis of capitalism, in the culmination of his life's work. Marx's ideas and their subsequent development, collectively known as Marxism, have had enormous influence.

Born in Trier in the Kingdom of Prussia, Marx studied at the University of Bonn and the University of Berlin, and received a doctoral degree in philosophy from the University of Jena in 1841. A Young Hegelian, he was influenced by the philosophy of Georg Wilhelm Friedrich Hegel, and both critiqued and developed Hegel's ideas in works such as The German Ideology (written 1846) and the Grundrisse (written 1857–1858). While in Paris, Marx wrote his Economic and Philosophic Manuscripts of 1844 and met Engels, who became his closest friend and collaborator. After moving to Brussels in 1845, they were active in the Communist League, and in 1848 they wrote The Communist Manifesto, which expresses Marx's ideas and lays out a programme for revolution. Marx was expelled from Belgium and Germany, and in 1849 moved to London, where he wrote The Eighteenth Brumaire of Louis Bonaparte (1852) and Das Kapital. From 1864, Marx was involved in the International Workingmen's Association (First International), in which he fought the influence of anarchists led by Mikhail Bakunin. In his Critique of the Gotha Programme (1875), Marx wrote on revolution, the state and the transition to communism. He died stateless in 1883 and was buried in Highgate Cemetery.

Marxism is a political philosophy and method of socioeconomic analysis that uses a dialectical materialist interpretation of historical development, known as historical materialism, to understand class relations and social conflict. Originating in the works of 19th-century German philosophers Karl Marx and Friedrich Engels, the Marxist approach views class struggle as the central driving force of historical change.

Marxist analysis views a society's economic mode of production as the foundation of its social, political, and intellectual life, a concept known as the base and superstructure model. In its critique of capitalism, Marxism posits that the ruling class (the bourgeoisie), who own the means of production, systematically exploit the working class (the proletariat), who must sell their labour power to survive. This relationship, according to Marx, leads to alienation, periodic economic crises, and escalating class conflict. Marx theorised that these internal contradictions would fuel a proletarian revolution, leading to the overthrow of capitalism and the establishment of a socialist mode of production. For Marxists, this transition represents a necessary step towards a classless, stateless communist society.

The Grundrisse der Kritik der Politischen Ökonomie (Rohentwurf) (German: [ˈɡʁʊntˌʁɪsə]; lit. "Foundations/Outlines of the Critique of Political Economy (Rough Draft)") is a lengthy, unfinished manuscript written by Karl Marx in the winter of 1857–1858. Comprising seven notebooks of economic studies, the work represents the first major draft of Marx's critique of political economy and is widely considered the preparatory work for his magnum opus, Das Kapital. The text was written for self-clarification during the Panic of 1857, and remained unpublished during his lifetime. A first edition was published in German in Moscow in 1939 and 1941, but the work only became widely available and influential in the 1960s and 1970s; a full English translation appeared in 1973.

The manuscript's scope is vast, covering all six sections of Marx's intended economic project. It explores key themes such as alienation, the nature of capital as a self-expanding process or "value in motion," and an analysis of pre-capitalist economic forms. It contains the well-known "Fragment on Machines," in which Marx analyses the effects of automation, foreseeing a point where social knowledge becomes a direct productive force, a concept he termed the "general intellect." The work also outlines the dialectical method Marx considered "scientifically correct," which proceeds from simple abstract categories to an understanding of the concrete world as a "rich totality of many determinations and relations."

In Karl Marx's critique of political economy and subsequent Marxian analyses, the capitalist mode of production (German: Produktionsweise) refers to the systems of organizing production and distribution within capitalist societies. Private money-making in various forms (renting, banking, merchant trade, production for profit and so on) preceded the development of the capitalist mode of production as such. The capitalist mode of production proper, based on wage-labour and private ownership of the means of production and on industrial technology, began to grow rapidly in Western Europe from the Industrial Revolution, later extending to most of the world.

The capitalist mode of production is characterized by private ownership of the means of production, extraction of surplus value by the owning class for the purpose of capital accumulation, wage-based labour and—at least as far as commodities are concerned—being market-based.

Productive forces, productive powers, or forces of production (German: Produktivkräfte) is a central idea in Marxism and historical materialism.

In Karl Marx and Friedrich Engels' own critique of political economy, it refers to the combination of the means of labor (tools, machinery, land, infrastructure, and so on) with human labour power. Marx and Engels probably derived the concept from Adam Smith's reference to the "productive powers of labour" (see e.g. chapter 8 of The Wealth of Nations (1776)), although the German political economist Friedrich List also mentions the concept of "productive powers" in The National System of Political Economy (1841).

John Ruskin (8 February 1819 – 20 January 1900) was an English polymath – a writer, lecturer, art historian, art critic, draughtsman and philanthropist of the Victorian era. He wrote on subjects as varied as art, architecture, political economy, education, museology, geology, botany, ornithology, literature, history, and myth.

Ruskin's writing styles and literary forms were equally varied. He wrote essays and treatises, poetry and lectures, travel guides and manuals, letters and even a fairy tale. He also made detailed sketches and paintings of rocks, plants, birds, landscapes, architectural structures and ornamentation. The elaborate style that characterised his earliest writing on art gave way in time to plainer language designed to communicate his ideas more effectively. In all of his writing, he emphasised the connections between nature, art and society.

Marxian economics, or the Marxian school of economics, is a heterodox school of political economic thought. Its foundations can be traced back to Karl Marx's critique of political economy. However, unlike critics of political economy, Marxian economists tend to accept the concept of the economy prima facie. Marxian economics comprises several different theories and includes multiple schools of thought, which are sometimes opposed to each other; in many cases Marxian analysis is used to complement, or to supplement, other economic approaches. An example can be found in the works of Soviet economists like Lev Gatovsky, who sought to apply Marxist economic theory to the objectives, needs, and political conditions of the socialist construction in the Soviet Union, contributing to the development of Soviet political economy.

Marxian economics concerns itself variously with the analysis of crisis in capitalism, the role and distribution of the surplus product and surplus value in various types of economic systems, the nature and origin of economic value, the impact of class and class struggle on economic and political processes, and the process of economic evolution.