MARXISM
A social, political, and economic philosophy which examines the effect of capitalism on labor, productivity and economic development. Based on ideas and works of German Philosopher Karl Marx, the theory explains the struggle between social classes, particularly the bourgeoisie or capitalists and proletariat or workers, that reflect the development of the nation; and the capitalists endeavor to seek power over masses on the production factors. In order for the economy to grow continuously, economic control has to be eliminated from private ownership. This way, it will be replaced by socialism because the workers will govern society. This is also where the core ideas of modern communism and socialism come from. Marxism was developed in the 19th century.
POPULAR TERMS
Chaebol Structure
Back Charge
Nationalization
Headline Risk
Dow Jones Sustainability United States Index
POPULAR ARTICLE
SEE FOREX TUTORIAL
Digesting Financial Statements: Introduction
A Guide to Your Personal Income Tax: Avoid Awful Surprises
Ethical Investing: Instruments for Ethical Investing
Retirement Planning: Maximizing the Power of Compounding
The Concepts of Economics: Scarcity
ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 12:00 | CBI retail sales volume balance | Apr | |
| 01:01 | BRC Shop Price Index | Apr | |
| 01:30 | Unemployment Rate | Mar | |
| 05:04 | BoJ MPC Interest Rate Announcement | Apr | |
| 05:04 | Monetary Policy Meeting Minutes | ||
| 05:04 | BOJ Outlook Report | ||
| 07:00 | BOJ Core CPI | Mar | |
| 08:30 | Bank of Japan Press Conference | ||
| 09:00 | Unemployment Rate | 1 quarter |
