WORLD HISTORY

Detailed explanation-1: -Marx wrote that the industrial capitalists and others using private property to make profits made up the oppressive class of his time. Marx called this class the bourgeoisie, which used its wealth and control over government to exploit the industrial working class.

Detailed explanation-2: -In the theory of Karl Marx, the term proletariat designated the class of wage workers who were engaged in industrial production and whose chief source of income was derived from the sale of their labour power.

Detailed explanation-3: -Marx and Engels were early critics of the effects of the modern factory system, predicting its end as the workers rose up and took control of a system which exploited them so badly and treated them as appendages to machines.

Detailed explanation-4: -Marx believed that the capitalist system would leave a small number of manufacturers in control of all the wealth. The large proletariat would revolt, seize the factories and mills from the capitalists, and then the workers, sharing in the profits, would bring about economic equality for all people.

Detailed explanation-5: -Marx, using principles of classical economics, explained that the value of labor power must depend on the number of labor hours it takes society, on average, to feed, clothe, and shelter a worker so that he or she has the capacity to work.