Social and Cultural Theory Study Guide

Karl Marx

Karl Marx was a prolific German social philosopher who is renowned for his exceptional theories related to modern socialism and communism. Marx strongly believed that the recent times have changed the value of man. According to Marx, people are no longer valued for who they are, but they are categorized assessing their importance and participation in the production of products/goods. In the present time, money has become so much more important than it was in the past.

His economic theory of labor refers to the value of money as compared to the value of laborers who use up their energies in generating it. Marx's labor theory of value and the idea of surplus value hold significant importance in social science studies. According to Marxism, it is supposed that the value of a product is eventually derived by the amount of labor that...
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