1. MARXIST THINKING Karl Marx (1818-1883)
Capital: a Critical Analysis of Capitalist Production, Vol. 1 (1867)

2. MODES OF PRODUCTION
1. Slavery = Slaves are property & laborers, Slave Owners control the means of production
2. Feudalism = Laborers (cultivators or herdspeople) have access to the means of production. Feudal Lords extract tribute by political and military means
3. Capitalism = Laborers (Proletariat) sell their labor power for a wage. Property Owners (Bourgeoisie) control the means of production

3. MARXIST TERMINOLOGY
Means of Production = System of labor and property relations (i.e. a farm, factory, etc.)
Labor = Activities that transform raw nature into something to use/exchange
Property = Social connection between people and things
Use Value = Immediate value of a product
Exchange Value = Value of product for sale or trade, including the profit

4. MARXIST TERMINOLOGY (cont.)
Classes = Social groups defined by their relationship to the means of production
1. Bourgeoisie = owners of means of production (factories, mines, large farms, etc.)
2. Proletariat = (working class) people who sell their labor to survive
Exploitation = Owner’s profit exceeds laborers’ wages

5. MARXIST TERMINOLOGY (cont.)
Social Relations of Production = Relationships between humans engaged in the system of labor and property relations
Specialized Labor = Laborers perform specialized tasks that depend upon other specialized labor (i.e. Assembly Line labor)
Alienated Labor = Laborer is separated from: the means of production, the product of the work, other laborers

6. MARXIST TERMINOLOGY (cont.)
Commodity = Product of labor
Commodity Fetishism = Product of labor takes on a meaning/value that exceeds the exchange value; commodity has a spirit/life of its own that gives it power

7. MARXIST TERMINOLOGY (cont.)
Class Consciousness = Members of a social class recognize their collective interests and personally identify with their economic group
Revolution = working class unite to overthrow the bourgeoisie
Organizing = Workers develop organizations to protect their interests and increase their share of industrial profits (i.e. trade unions, socialist parties)