Marx believed that the development of capitalism in Europe led to a struggle between two primary classes - the bourgeoisie (often referred to as the "capitalists") and the proletariat (the "working class").
Bourgeoisie:
- The bourgeoisie control the means of production (factories, resources) and use the labor of the proletariat to generate wealth.
- The surplus value generated by the labor of the working class is accumulated as profits by the bourgeoisie.
Proletariat:
- The working class sells its labor to the bourgeoisie in exchange for wages.
- They receive wages just sufficient to sustain their livelihood, while the fruits of their labor are concentrated in the hands of the bourgeoisie.
Marx's Predictions:
- Marx predicted that over time, the concentration of wealth in the hands of the few would lead to increased class conflict and tension.
- He believed that the inherent contradictions of capitalism, including exploitation and the accumulation of surplus value, would ultimately result in a revolution leading to a communist society.