Year: 2025
Type: article
Abstract: Marxist political economy, developed by Karl Marx and Friedrich Engels, provides a unique theoretical framework for economic analysis through class struggle, surplus value, and the movement of capitalism. This paper presents core principles such as labor value theory and the intrinsic contradictions of capitalism and examines its roots in the 19th-century industrial revolution. The study evaluates the influence of this theory on revolutionary movements, socialist economic policies in China and Vietnam, and modern critical thinking. The results show that the theory is still valid in explaining inequality and economic crises, but needs to be adapted to the context of globalization and digital technology. The paper concludes that Marxist political economy is an important tool for understanding the modern economy, calling for more research to adapt to new challenges.
Source: Kalagatos
Author: Thanh Quang Ngo
Institution: Ho Chi Minh City University of Industry and Trade
Language: English
Subfield: Sociology and Political Science
Field: Social Sciences
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4409289016