Identify the essential principles of Karl Marx’s economic, social, and political theories.

The very fundamentals of Marxism were laid down by the scientific and theoretical grounds of communism. [1] [2] The main aspects of his version of communism were: materialist conceptions of history, a critique of capitalism and its inner workings, and an account of the eventual communist revolution against capitalism and overthrowing it.

Firstly, his materialist conceptions of history included perceiving history as a never-ending cycle of class struggles and revolutionary upheavals, which would lead to all people's freedom, deriving these views partly from G.W.F. Hegel. He also believed history was driven by material and economic conditions, which Marx can show as he wrote, "Before a man can do anything else, [...] they must first produce the means of their subsistence."

Secondly, his critique of capitalism showed that he believed human history progressed from ancient slave societies to feudalism and then to capitalism. In each stage, a dominant class controlled the means of production to exploit the labour of a larger class of workers; but due to internal tensions, revolutions would eventually come to reality, overthrowing and replacing the ruling class with their successors; therefore, the bourgeoisie (or the rich, if you want to call it that) overthrow the aristocracy and built a capitalist society upon the grounds of a feudalist society.

Third and finally, his revolutionary perception of communism believed that capitalism is a volatile economic system that will eventually suffer and succumb to a series of ever-worsening crises—including recessions and depressions—which will produce greater unemployment and lower wages, increasing misery among the proletariat. These crises will eventually convince the proletariat that their interests are implacably opposed to those of the ruling bourgeoisie. Armed with class consciousness, they will seize the means of production and institutions of state power and establish a socialist state which Marx called "a revolutionary dictatorship of the proletariat," and will thus rule in its own class interest.

Thus, we can conclude that we have correctly identified and listed the traits, ideals, perceptions, and views that Marx's communism deployed. Most were built upon the grounds of communism but were changed to face bigger problems and look upon history in different ways, including society.

Sources and Footnotes:

Footnote 1: The German Ideology

Footnote 2: Das Kapital

Source 1. The Communist Manifesto

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