owners of the means of production under capitalism. They accumulate capital by exploiting the labor of the working masses, or proletarians.
while money is used to purchase commodities for consumption, capital refers to an accumulation of money that is used to generate more money, in other words to generate wealth through investment.
an economic system and an ideology based on private ownership of the means of production and their operation for profit. Characteristics central to capitalism include private property, capital accumulation, wage labor, voluntary exchange, a price system, and competitive markets. In a capitalist market economy, decision-making and investment are determined by the owners of the factors of production in financial and capital markets, and prices and the distribution of goods are mainly determined by competition in the market.
A commodity is something that is produced for the purpose of exchange or consumption. It mainly refers to goods, but since, under capitalism, labor is commodified, it can also be applied to services and labor.“A commodity is, in the first place, an object outside us, a thing that by its properties satisfies human wants of some sort or another.”
is the philosophical, social, political, and economic ideology and movement whose ultimate goal is the establishment of the communist society, which is a socioeconomic order structured upon the common ownership of the means of production and the absence of social classes, money, and the state. Communism can only be attained when all the world’s nations become socialist, for as long as there exist a single capitalist nation in opposition to socialism, the state cannot be dissolved.
when someone makes money off the labor of another. If a worker produces $40 of value in an hour of work, but is paid only $20 an hour, then they are being exploited.
i.e. scientific socialism. This term refers to the world conception ofKarl Marx and Frederick Engels, and is based on a mathematical socioeconomic analysis that views class relations and social conflict using a materialist interpretation of historical development and a dialectic view of social transformation. The pillars of Marxism are thus the concepts of class relations, historical materialism, dialectical materialism, and the ‘base and superstructure’ framework—all of which must be understood in order to understand Marxism. Whereas the utopian socialists before Marx simply espoused socialism and/or communism, Marx actually created a comprehensive world view that explained how capitalism would eventually be overthrown and replaced with socialism.
the development of a socialist state through the leadership of a revolutionary vanguard composed of "professional" revolutionaries, who are an organic part of the working class and come to socialist consciousness as a result of the dialectic of class struggle. The socialist state, which according to Marxism–Leninism represents a "dictatorship of the proletariat",is primarily or exclusively governed by the party of the revolutionary vanguard through the process of democratic centralism, which Vladimir Lenin described as "diversity in discussion, unity inaction." Through this policy, the communist party (or equivalent) is the supreme political institution of the state and primary force of societal organization. Marxism–Leninism professes its final goal as the development of socialism into the full realization of communism, a classless social system with common ownership of the means of production and with full social equality of all members of society. To achieve this goal, the communist party mainly focuses on the intensive development in industry, science and technology, which lay the basis for continual growth of the productive forces and therein increases the flow of material wealth. All land and natural resources are publicly owned and managed, with varying forms of public ownership of social institutions.
the main characteristic of this class is that their labor is exploited. “The proletariat is that class in society which lives entirely from the sale of its labour power and does not draw profit from any kind of capital; whose weal and woe, whose life and death, whose sole existence depends on the demand for labour.”