Question

A, B, C. This course teaches you to recognize the past origins of many of today’s economic beliefs. Ideas from socialism, including the works of Karl Marx, have had a resurgence among some US politicians in recent times,. Karl Marx’s name usually is not mentioned by US politicians, but the ideas are the basis of his/her modern belief. The course’s assigned works of Karl Marx have allowed you to read many of the ideas in the original. Separately answering as parts A, B, and C, identify and explain three different ideas being promoted by contemporary US politicians that have their origins in the economic beliefs of Karl Marx. Karl Marx usually is not named, but we have spotted the origins in his works. For each of the three Marxist ideas that you identify, also identify the modern US policy belief and proposal that has its origins in the works of Karl Marx.

Answer 1

A.Karl Marx is classical economics. He was the father of Marxism. He is famous for giving theories. Karl Marx's theories have a greater impact on society, the economy. Karl Marx introduced the concept of socialism. He felt that the industrial society belonged to the capitalists and capitalists are those whose capital is invested in industries but the profit is produced by the laborers.

B.3 different ideas being promoted by contemporary US politicians that have their origins in the economic beliefs of Karl Marx.

1.Historical materialism

2.Marxian economic theory

3.sociopolitical theory

1, Historical materialism-: It is the conception of history. According to this history is the result of material conditions rather than ideals.

2. Marxian economic theory-: This theory is given by economist Karl Marxian. According to this theory, it focuses on the role of labor in the development of an economy,

3.sociopolitical theory-It is an emerging theory. Sociopolitical theory expands on empowerment and similar ideas related to social change.

C.The modern US policy belief and proposal that has its origins in the works of Karl Marx.

Karl Marx is the classical economics. He was the father of Marxism. He is famous for giving theories. Karl Marx's theories have a greater impact on society, the economy.

Marx is influential in the field of sociology, political economy.

As per Marx, the Modern era comprises two classes. first is capitalism and second is socialism

Capitalists are the business owner who produces goods with the help of labor and they exploit labor as they work for money in return.they does not get any bonus and part from profit. as capitalists earn profit from them and socialism is the society that purchases goods and services.

Modern us policy believes in social justice, Equality, Welfare of people in the economy.