Q- Who was Karl Marx? What was his theory of Socialism?
Answer- Karl Marx was a communist who gave the idea or concept of Socialism.
Karl Marx’s Theory:
1. He felt that the Industrial society belonged to the capitalists.
2. Capitalists owned the capital invested in Industries, but the profit was produced by the workers.
3. He believed that the condition of the workers would never improve and profit taken by capitalists.
4. Marx believed that to free them from capitalists’ exploitation, workers had to form a socialist society where all property was socially controlled.
This would be a communist society.