As Marx focused on materials or the
economic sector, he was interested in
political economists’ work which says
that labor was the source of all wealth.
• Marx suggested “labor theory of value,”
and argued that the profit of the
capitalists was based on the exploitation
of the labor.
It means that capitalists pay workers less
money than the workers actually
produced. The capitalists invest that
surplus values from the exploitation of
the labor to the expansion of the
capitalism.
Marx criticized political economists for
seeing evil systems of capitalism as
inevitable without trying to change it.
• Marx also criticized that such
conservative political economists failed
to see the conflict between capitalists
and laborers.
Instead, Marx suggested a radical change
from capitalism to socialism.
• In socialist society, people can interact
harmoniously, and can work and create
what they need to survive.