Marx, Karl. Wage Labour and Capital and Value, Price and Profit.
New York: International Publishers, 1976.
For Karl Marx, the study of philosophy and economics were both inexorably linked. In the study of his works, particularly those of an economic bent, it is necessary to understand a basic outline of the philosophy and ideas which came to be known as Marxism.
Initially, one must remember that Marx was clearly a product of his time, and his economic and philosophical ideas are focused toward the perceived evils of industrialization and capitalism. Marx's philosophy is derived from many sources, most notably the influence of Georg Friedrich Hegel and Ludwig Feuerbach.
There are as many definitions of Marxism as there are practicing Marxists, however there are at least four concomitant elements which form the backbone of his philosophy. The first is the manner of approach to history and philosophy, namely dialectics. In a dialectical approach, one is aware of the arguments and contradictions within ideas themselves, and in the tangible form those ideas take within civilization. A second trend running throughout Marxism is a materialist approach to history. To Marx, this meant that the central role of historical development was the productive aspects of civilization. Within this view, the basis for historical change is the conflict between the "haves" and the "have nots" otherwise known as class struggle. The next common element is a general view of capitalism. Marx viewed capitalism as an historical product, one which operated with scientific, and therefore discoverable, laws. Finally, as capitalism is an historical truth, so to is its eventual demise. Since capitalism will continue to exploit its workers in the desire for greater profit, there will come a time when the workers (proletariat) will rise up and throw off the chains of their oppressors. It is at this point that the doctrine of socialism will ent...