Skip to main content
Back

Communism and Karl Marx definitions

Control buttons has been changed to "navigation" mode.
1/15
  • Communist Model
    A radical critique of free markets, envisioning worker ownership of production and elimination of capitalist profit.
  • Karl Marx
    A 19th-century economist and philosopher who theorized that capitalism would inevitably lead to worker-led revolution.
  • Labor Theory of Value
    A concept asserting that the worth of goods and services is determined solely by the labor invested in their creation.
  • Free Market System
    An economic structure where prices and production are dictated by private owners and voluntary exchange, not central planning.
  • Means of Production
    Physical assets like factories and machinery required to produce goods, typically controlled by capitalists in capitalism.
  • Capitalist
    An individual or group owning productive resources, profiting from the labor of others without direct contribution to value.
  • Exploitation
    A process where workers receive less compensation than the value they generate, with the surplus accruing to owners.
  • Monopoly
    A situation where a small number of firms or individuals control the majority of production and market power.
  • Wages
    Compensation paid to workers, often described in Marxist theory as being suppressed to minimal survival levels.
  • Profits
    The financial gains capitalists receive, viewed by Marx as derived from underpaying labor relative to value created.
  • Rebellion
    A predicted uprising by the working class to take control of productive assets from capitalists.
  • Soviet Union
    A state formed after the Bolshevik revolution, representing a major historical attempt to implement Marxist principles.
  • Bolshevik Party
    A revolutionary group that led the 1917 Russian uprising, establishing the first large-scale communist government.
  • Dictatorship
    A form of governance marked by centralized, often oppressive control, as seen in some communist states.
  • Survival Level
    The minimum standard of living, theorized by Marx as the baseline to which worker compensation would be reduced.