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Masters Of Money | Part 3 | Karl Marx
Economics and finance
Masters of Money
Karl Marx (5 May 1818 – 14 March 1883) was a philosopher, economist, sociologist, journalist, and revolutionary socialist. Born in Prussia to a middle-class family, he later studied political economy and Hegelian philosophy.
As an adult, Marx became stateless and spent much of his life in London, England, where he continued to develop his thought in collaboration with German thinker Friedrich Engels.
In the United States, people know about Marx mostly for having co-written the 1848 pamphlet 'The Communist Manifesto'.
But that is completely misunderstanding the legacy of Karl Marx. The Manifesto is a trifle compared to Marx's masterwork of economics, 'Das Kapital'.
Karl Marx defined capitalism, and world history has proven him right thousands of times over.
It is unfortunate that despite his genius for economics, Marx became a convinced socialist and believed Lenin to be the right vector for the implementation of socialism. History has proven that when it came to politics, Marx was simply wrong.
As an adult, Marx became stateless and spent much of his life in London, England, where he continued to develop his thought in collaboration with German thinker Friedrich Engels.
In the United States, people know about Marx mostly for having co-written the 1848 pamphlet 'The Communist Manifesto'.
But that is completely misunderstanding the legacy of Karl Marx. The Manifesto is a trifle compared to Marx's masterwork of economics, 'Das Kapital'.
Karl Marx defined capitalism, and world history has proven him right thousands of times over.
It is unfortunate that despite his genius for economics, Marx became a convinced socialist and believed Lenin to be the right vector for the implementation of socialism. History has proven that when it came to politics, Marx was simply wrong.
2012
BBC (British Broadcasting Corporation)
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