Communism and Karl Marx

This chapter examines Karl Marx’s doctrine of communism and his critique of capitalism. The chapter describes the reasons for and failed attempts to introduce communism in the Soviet Union and the example of China. The doctrine of communism is rarely studied and is included in management or economics textbooks for students.

All the theories described in Part A, Chapter 1, except for Karl Marx’s theory, are based on a few fundamental principles of capitalism and on the belief that private property is inviolable, that private individuals can engage in economic activity in a free market, and that the state interferes with the free market only to the extent that is necessary for the state’s essential needs. Karl Marx criticised capitalism in his book Capital and proposed an alternative theory of how business and economic relations can work.

Ex. 1‑16 Karl Marx’s Capital in the context of other historical events

Keywords: capital, comunism, Karl Marx

Ex. 1‑17 Countries where the doctrine of communism has been or is being implemented

Keywords: communism, Asia, Africa

Communism is fundamentally opposed to capitalism and the free market, which is why it is avoided in the academic literature on business and economics for students in Western countries.

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