Wages, Price and Profit

Marxism is an economic and sociopolitical worldview and method of socioeconomic inquiry based upon a materialist interpretation of historical development, a dialectical view of social change, and an analysis of class-relations within society and their application in the analysis and critique of the development of capitalism.

In the mid-to-late 19th century, the intellectual development of Marxism was pioneered by two German philosophers, Karl Marx and Friedrich Engels. Marxist analyses and methodologies have influenced multiple political ideologies and social movements throughout history. Marxism encompasses an economic theory, a sociological theory, a philosophical method and a revolutionary view of social change.