• Marxist economics is a way of understanding how the economy works, based on the ideas of Karl Marx

• He believed that capitalism — the system where businesses and factories are owned by private individuals — is unfair and will not last forever.

• He imagined a world where everyone shares ownership of land, factories, and resources, and works together to meet each other’s needs, not just to make profits. Following the communist ideology

Two Main Classes Of Marxist Economy

• Capitalists :These people own the factories, land, and machines. They earn money by hiring workers and selling products.

• Workers :These people do not own any businesses or land. They work for wages to survive.

Marxism Economy Influence

• The ideology of Marxist economy is influenced by communism

• As their economic policies and ways of distribution of economic capital and value is similar to communist pattern

• The Marxist economy was found by a person in the communist party and in a communist country