THE MARXIAN THEORY OF POLITICAL ECONOMY AND SOCIAL CLASS ANALYSIS
Introduction According to Marxian political economy, the structure of material production forms the foundation upon which political, legal, and social life is built. This idea is captured in the famous assertion that “the mode of production of material life determines the character of the political process of life.” In other words, the way a society produces its material needs — food, goods, wealth, and resources — largely shapes its political institutions, power relations, and patterns of governance. This argument is closely connected to The Communist Manifesto, jointly authored by Karl Marx and Friedrich Engels in 1848. Marxian theory presents society as fundamentally shaped by economic structures and class relations rather than by ideas, religion, or morality alone. Marxian Political Economy Marx argued that the driving force of history is not ideas, morals, or religion, but material conditions. He believed that human history is fundamentally a history of class struggles. According ...