This theory posits that the economic structure of society, specifically the ownership of the means of production, is the primary driving force behind historical change. According to Marx, the class struggle between those who own and those who labor creates social, political, and economic systems.
2. Theory of Surplus Value:
Marx argued that under capitalism, workers produce more value than they receive in wages. The difference between the value of a worker's labor and their compensation constitutes surplus value, which becomes profit for the capitalist. Workers are thereby exploited, resulting in class conflict and capitalist accumulation.