 Marxism aims to respond to the problems inherent to capitalism  It criticizes realism and liberalism (responsible for capitalism)  Economic organizations.

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Presentation transcript:

 Marxism aims to respond to the problems inherent to capitalism  It criticizes realism and liberalism (responsible for capitalism)  Economic organizations determine political and economic system in capitalist societies

 Capitalism: free market, private ownership of wealth and property, division of society economic and social classes  Classes: owners and workers  Societal and political system is based on capitalist based economy which is designed to maintain capitalist system (profit making of owner class)

 Politics is dominated by elite interest, institutions of government aimed keeping workers exploited and maintain increase of wealth of owners  Rich states/militaries maintain capitalist systems and elite interests

 Communists system: reject private ownership and wealth based social classes  Aims to construct economic system benefits to all citizens /classless society  Eastern bloc led by Soviet Union attempt to remove themselves from corrupted capitalist system  Cold War, US vs. Soviet Union, Capitalism vs. Communism

 Marxism discuss that during the Cold War international politics focused on how rich states mobilize their resources to increase their wealth  International organizations (UN, IMF, WB) serve instruments of the rich states to maintain world system (maintain division of core and periphery)

 Keeping developing countries in debt (lend by developed countries-maintain dependency to core states for trade and investment)  End of the Cold War triumph of liberal capitalism (F. Fukuyama, ‘End of the History’)  Marxism is still relevant in new forms as ‘Neo-Marxism’- ‘Critical Theory’