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Economics: Description of Marxism Theory

Introduction

The fields of economics and sociology offer powerful concepts for studying communities and how human beings engage in various activities to generate income. In some regions, cases of inequality and injustice are usually prevalent, thereby affecting the experiences and outcomes of the affected citizens. Different scholars and philosophers have presented powerful concepts to explain the source and nature of class struggles. This discussion gives a detailed analysis and description of Marxism as one of the most informative economic theories.

Discussions

The economics discipline was selected since it offers an opportunity to learn more about production, human consumption, and the transfer of wealth. Marxism theory is considered since it provides additional insights for understanding more about social conflicts and inequalities and proposes superior measures to address them. Over the years, the class struggle remains a major problem in many societies characterized by the unfair distribution of resources (Demers, 2011). Although it emerged many years ago, this concept remains relevant and meaningful in the present-day world.

The pioneers and promoters of this theory relied on various empirical ideas to present their thoughts. For instance, Karl Marx believed that human society had emerged as a product of class struggle. He identified two opposing sides that existed in every community, such as slaves vs. freemen, oppressed vs. oppressors, and serf vs. lord. These individuals were fighting each other continuously in an attempt to overturn society (Demers, 2011). The events that led to the French Revolution could offer powerful arguments in favor of Marxism. The oppressed believed that those in power had designed biased systems and leadership patterns. Consequently, they were ready to stand up and fight for equality.

From the nature of these arguments, it is evident that the identified concept of Marxism is still topical in the contemporary world; various reasons are worth presenting to support this assertion. First, many people still find it hard to find new opportunities today, such as jobs or education. This challenge exists even though a small percentage of global citizens control the available wealth (Carr, 1964). Second, cases of inequality continue to be experienced in different parts of the world. Most of them exist in the areas of gender, race, age, and cultural background.

As for me, I believe that Marxism resonates with my personal views and experiences. For example, I have encountered several cases whereby different people have faced discrimination in their respective workplaces. I have also seen some people finding it hard to get new opportunities since they are from specific cultures or races. Additionally, there is a time when a colleague explained to me the obstacles he had encountered while trying to get a job. According to the individual, he believed that his ethnic background was to blame for such obstacles. These observations reveal that the subject vibes with my personal experiences and observations. These predicaments and struggles exist due to the government’s failure to implement superior laws and programs that can increase the level of equality (Nilsson, 2019). The introduction of appropriate policies will address such gaps and equip underserved individuals with adequate resources.

Conclusion

In present times, inequality remains a common problem affecting many individuals in different societies all over the globe. This challenge particularly resonates with the concept of Marxism studied in class. Therefore, the government needs to consider the historical issues experienced in the past and implement new policies and ideas that can guide more people to increase their production rates and eventually improve their life experiences.

References

Carr, E. H. (1964). The twenty years’ crisis: 1919-1939. Harper & Row, Publishers.

Demers, D. (2011). The ivory tower of Babel: Why the social sciences have failed to live up to their promises. Algora Publishing.

Nilsson, M. (2019). Economic inequality, Marxist theory, and Swedish-language working-class literature. Studia Neophilologica, 92(2), 222-237. Web.

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