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One of Adam Smith’s most intelligent and penetrating readers was the German economist Karl Marx. Marx agreed entirely with Smith’s analysis: specialization had indeed transformed the world and possessed a revolutionary power to enrich individuals and nations. But where he differed from Smith was in his assessment of how desirable this development m
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Marx...was among the very first to recognize that the fever-fits of financial crisis and depression that afflict modern market economies were not a passing phase or something that could be easily cured, but rather a deep disability of the system...
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Marx's Concept of Man. Erich Fromm 1961
Marxism-Leninism is a science with a sound economic and philosophical foundation. Mankind moved from slavery to feudalism to capitalism. The logical next and final step is communism.
Capitalism is based on the exploitation of workers by the rich owners of the means of production. The Marxist maxim, “From each according to his ability, to each accord
In this process, Marx saw the seeds of a society that would eventually be reduced to two classes—owners and workers.