Question 1

Marx himself wrote that our experiences are dependent on our historical context. Thus today, given that Marx wrote during the industrial revolution, are Marx's ideas still applicable to our postindustrial society?

Accepted Answer

The answer of Marx himself wrote that our experiences are...

Question 2

Because the concept was so central to his theory, Marx developed an extremely specific and refined definition of social class.

Accepted Answer

Marx's concept of social class was foundational to his theory, but he did not develop an extremely specific and refined definition of social class; rather, he focused on broader class distinctions, primarily between the bourgeoisie (capitalists) and the proletariat (workers).

Question 3

Marx's concept of capital refers to money that is invested to make more money through the circulation of commodities.

Accepted Answer

Marx's concept of capital is based on the idea of investing money to generate profit through the circulation of commodities in the market. This form of capital is distinct from other forms of wealth, such as land or labor, as it is used specifically for the purpose of generating more money.

Question 4

A class-in-itself is comprised of people who share a similar economic position, but those people are largely unaware they are exploited through that shared economic position.

Accepted Answer

This is the basic concept of a class-in-itself in Marxist theory – a group of people who share a common economic position but are not necessarily aware of it or organized around it. This is contrasted with a class-for-itself, which is a group of people who not only share a common economic position but also recognize their shared interests and organize to fight for them.

Question 5

Karl Marx thought use value is a qualitative property that relates to the physical attributes of a commodity.

Accepted Answer

This is correct. Marx distinguished between use value (the physical and qualitative properties of a commodity that make it useful for consumption) and exchange value (the social and quantitative relation between commodities that determines their exchangeability in the market).

Question 6

Think for a moment about the best or worst job you ever had. Was this job alienating? That is, did you own what you produced? Could you produce how you pleased or was that controlled? Did your work separate you from others? Was the work dehumanizing?

Accepted Answer

The answer of Think for a moment about the best...

Question 7

Grab a newspaper (or more likely visit one online), scan the headlines and look for a current event that interests you. Then, conduct a Marxian analysis to read between the lines, or explain what is unfolding.

Accepted Answer

The answer of Grab a newspaper (or more likely visit...

Question 8

Karl Marx thought exchange value is a quantitative property that relates to the numerical amount a commodity can be traded for another.

Accepted Answer

This is a correct statement about Karl Marx's theory of exchange value.

Question 9

Marx devoted the bulk of his work to explaining how capitalism would transition into communism.

Accepted Answer

The answer of Marx devoted the bulk of his work...

Question 10

Marx saw capitalism as a good thing, at least in relation to the oppressive social systems that preceded it.

Accepted Answer

Marx acknowledged that capitalism was a necessary phase in economic development, bringing advancements and improvements over previous feudal systems, despite its inherent flaws and eventual need to be surpassed by socialism.

Quiz 2: Karl Marx