K. Marx's Economic Theory and Current Significance

Introduction

The purpose of our analysis is not to praise or criticize Karl Marx and, in general, Marxism, which is not so difficult to do based on historical events and facts, but to realistically evaluate Marx’s economic theory and identify all the positive things in his teachings that can be used by economic science to help overcoming obstacles to the development of modern societies.

We are convinced that this task may be solved in case we succeed in identifying:

• 1.

  What purpose did Karl Marx really pursue?

• 2.

  Do they correspond to reality, the laws of development of nature and society, i.e. how realistic are the descriptions and analysis of the economic situation and mechanisms, as well as the causes of social problems made by Marx.

• 3.

  How applicable are the theoretical principles of Marx to explain and solve modern economic problems of development.