Who was Karl Marxc? What was his theory of socialism?

1.	Who was Karl Marxc? What was his theory of socialism?
Answer» Solution :Karl Marx was a communist, who introduced the CONCEPT of socialism., Karl Marx.s Theory: i. He felt that the industrial SOCIETY belogned to the capitalists. ii. Capitalists owned the capital invested, but the profit was PRODUCED by workers. III. He believed that the condition of workers WOULD never improve, as long as profit is taken by the capitalists. iv. Marx believedthat to free themselves from the capitalists exploitation, workers had to form a socialist society where all property was socialy controlled. This would be a communist society.

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