is a philosophical and economic approach based on the ideals of the German social theorist Karl Marx (1818 – 1883). The general trends in Marxism is that the economy is the most important institution in a government. Various forms of Marxism have, over time, rose to power and then fell even quicker, one such example is communism.
MARXISM: “Maxism is a philosophical and economic approach which developed in Russia on the base ideas of the social theorist Karl Marx.”