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'Profits only arise from exploitation.' How far is this the basis of Marxist economics and politics?
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'Profits only arise from exploitation.' How far is this the basis of Marxist economics and politics? To answer this question effectively I will first make a brief number of introductory points about Marx and his ideas, before moving on to look more specifically at the theory of surplus value and the concepts which derive from it. As we shall see, an understanding of this is essential in assessing the validity of the above statement. Karl Marx was born in Prussia in 1818 and received his formal education at the universities of Bonn and Berlin, where he discovered the work of Hegel, an eminent philosopher of the time whose ideas significantly influenced Marx's own intellectual development, particularly those that related to the philosophy of history. Marx's so-called 'materialist conception of history' holds that societies can be understood primarily by looking at the way that mankind organises production of the basic wants and necessities of...
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