Marx would most likely support a plan for Government ownership of most production.
Further Explanation:-
Karl Marx was the one to employ systematic analysis to attempt to elucidate capitalism's contradictory laws of motion as he wanted to expose the specific mechanisms that It exploited and alienated. Classical and political-economic theories were radically modified by him. Karl Marx was the one who transformed the labor theory of value. His approach of Scientific socialism would play its role as a branching point of economic theory. Marx used to believe that there was a class of struggle between the masses and he always used to refer that class as ‘Proletariat' and used to call people of the ruling class as ‘Bourgeoisie'.
His was of a belief that a political revolution was needed because the state was the main instrument of a capitalist society. He believed that the property should belong to society but he never gave any thought that how decisions related to the economy are made. He also emphasized on country's self-reliance and was against international trade and investment.
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Answer details:
Grade – High School
Subject – History
Chapter – Karl Marx
Keywords –Karl Marx, Economy, Emphasize, International Trade, Investment, Economic theory, Labor Theory, Proletariat, Bourgeoisie, Struggle.
