Marx

Question 1

What are Marx’s notable work ?

Answer 1

The German Ideology (1845) The Poverty of Philosophy (1847) , The Manifesto of the Communist Party (1848) and Capital (1867)

Question 2

Who was Marx’s co author ?

Answer 2

Frederick Engels (1820-1895)

Question 3

What time was Marx’s writing ?

Answer 3

During second phase of the industrial revolution of the 19th century in Britain

Question 4

What are the two faces ?

Answer 4

The first industrial revolution (1760-1812) ‘manufacturing capital’ from agrarian capitalist to an industrial capitalist economy. Second revolution (1830-1880) ‘industrial capitalism’ production was oriented towards coal , iron and steel based on steam power .

Question 5

What was Marx concerned about ?

Answer 5

Concerned about socio-economic inequality and poverty

Question 6

What does he distinguish between in terms of society ?

Answer 6

Economic ‘base’ of society and its legal , political and intellectual ‘superstructure ‘

Question 7

What are the three types of production ?

Answer 7

The ancient, the feudal and the capitalist modes. Been labelled as ‘technological determinist’

Question 8

What are the two types of economies according to Marx?

Answer 8

‘Vulgar economies’ and ‘Classical Political Economies’ both associated with Adam Smith

Question 9

What is the Labour theory of value ?

Answer 9

The Value of a commodity is determined by the amount of ‘socially necessary labour time going into its production .

Question 10

What is Marx’s views on earned income?

Answer 10

Is associated with wages and salaries and unearned income associated with profits , rents , dividends and interest payments

Question 11

What is rate of exploitation / rate of surplus value ?

Answer 11

The amount of surplus added by the worker divided by the amount of value added by the worker which goes to pay the workers wages

Question 12

What is ‘exploitation’?

Answer 12

The living off the labour of others (an economic category)

Question 13

What is ‘oppression’?

Answer 13

The existence of coercion (not an economic category). Possible for this to exist in absence exploitation

Question 14

What is Marx view of trade unions ?

Answer 14

Marx is critical of trade unions

Question 15

What is Marx view on price inflation?

Answer 15

Not caused by workers who make demands for higher wages , the demand for higher wages is a defensive reaction on the part of workers who are trying to maintain current standard of living

Question 16

What approach does Marx take ?

Answer 16

Scientific approach and aims to establish the existence of the ‘laws’ which regulate the phenomena in which he is interested

Question 17

What is capitalism ?

Answer 17

Is an economic system associated with competition between capitalist. Success s associated with increase economic efficiency then the new introduction of technology , more and more commodities etc

Question 18

Why will Capitalism produce an economic crisis in 7 to 10 years ?

Answer 18

Periods of underconsumption, overproduction or of capital accumulation and workers may be laid off . Also possibility that long run rates of profit will fall.

Question 19

How will these crisis be resolved ?

Answer 19

Capitalists find alternative outlets for the investment of new capital and larger efficient firms eat up smaller firms, moving in the direction of monopoly or oligopoly.

Question 20

What will happen when there are no new outlets for productive investment ?

Answer 20

There will be a final crisis and breakdown of capitalism. This is where the transition to socialism them communism will then occur

Question 21

What must the Proletariat do and what text was written for them ?

Answer 21

Must develop class consciousness. The Manifesto of the Communist Party 1884 .

Question 22

What happen in 19th century ?

Answer 22

Western Europe Imperialism prevented the final breakdown of capitalism by finding new and profitable outlets abroad .

Question 23

What will be necessary to overthrow capitalism ?

Answer 23

A violent revolution. This will occur at the final breakdown breakdown of capitalism, when necessary class consciousness has developed and the necessary organisational measures have been taken by the communist party .

Question 24

What is Marx’s understanding of science ?

Answer 24

similar to that of Auguste Comte and of positivism.
The logical separation of facts from values, science deals with the former not the latter and science is value-free .

Question 25

What is Marx’s ideological beliefs ?

Answer 25

Objectively false do not reflect reality and Promote the interests of a particular social class, notably the bourgeoise.

Question 26

What are distinction between ‘Orthodox Marxism’ and ‘Western Marxism’?

Answer 26

Former is associated with writing s of mature Marx and Latter is associated with writings of young Marx