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1818- He was born in Trier.

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1835- He goes to University of Bonn.

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1841- He graduates from University of Berlin.

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1843- Karl Marx marries Jenny von Westphalen.

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1844- Karl Marx meets Friedrich Engels.

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1845- He is forced to leave France.

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1848- Marx&Engels publish The Communist Manifesto.

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Marx&Engels Working on The Communist Manifesto

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Marx&Engels Working on The Communist Manifesto

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1867- Marx publishes the first volume of Das Kapital.

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1883- Karl Marx dies.

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Marxism is a social, political and economic philosophy named after Karl Marx.

Marxism draws a differentiation between two groups of people in society: the proletariat and the bourgeoisie. According to Marx, the bourgeoisie exploited the labor of the proletariat for profit.

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The bourgeoisie is also differentiated from the proletariat for owning the means of production.

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His work on understanding capitalism as a social and economic system remains a valid critique in the modern era. In Das Kapital (Capital in English), Marx argues that society is composed of two main classes: Capitalists are the business owners who organize the process of production and who own the means of production such as factories, tools, and raw materials.

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The other, much larger class is composed of labor (which Marx termed the "proletariat"). Laborers do not own or have any claim to the means of production, the finished products they work on, or any of the profits generated from sales of those products. Rather, labor works only in return for a money wage. Marx argued that because of this uneven arrangement, capitalists exploit workers.

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Marx's prediction of communist revolution proved correct, altough not where he expected, in industrialized Europse and America but in rural countries such as Russia and China.

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The value of a product comes from the effort needed to make it.

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Another important theory developed by Marx is known as historical materialism. This theory presumes that society at any given point in time is ordered by the type of technology used in the process of production.

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When the labour theory of value dominated economic thought, it faced a number of critiques based on paradoxical questions.

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If sandcastles are made by labour, why don't they have any value?

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If sandcastles are made by labour, why don't they have any value?

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If sandcastles are made by labour, why don't they have any value?

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If sandcastles are made by labour, why don't they have any value?

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Marx's response was that not everything made by labour has value, labour can still be wasted on goods no one wants.

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How can an artistic masterpiece be valued from the amount of labour hours used to make it?

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How can an artistic masterpiece be valued from the amount of labour hours used to make it?

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How can an artistic masterpiece be valued from the amount of labour hours used to make it?

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How can an artistic masterpiece be valued from the amount of labour hours used to make it?

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The defence to this critique is that a great work of art is an exception to the rule because it is a one-off. Therefore, there is no average quantity of labour from which to derive a price.

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Perhaps his most famous work, The Communist Manifesto summarizes Marx and Engels's theories about the nature of society and politics and is an attempt to explain the goals of Marxism, and, later, socialism. When writing The Communist Manifesto, Marx and Engels explained how they thought capitalism was unsustainable and how the capitalist society that existed at the time of the writing would eventually be replaced by a socialist one.

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Das Kapital (in English, Capital) was a full and comprehensive three-volume critique of capitalism. By far the more academic work, it lays forth Marx's theories on commodities production, labor markets, the social division of labor, and a basic understanding of the rate of return to owners of capital.Today, many of the ideas and critiques of capitalism remain relevant.