MarxismA socio-political and economic theory developed by Karl Marx and Friedrich Engels in the mid-19th century that explains social change through economic factors and class struggle. For example, it analyzes how the capitalist mode of production inevitably leads to a proletarian revolution and a classless society.
Class ConflictThe perpetual struggle between opposing socio-economic classes defined by their relation to the means of production. In the capitalist era, this manifests as the intense clash between the bourgeoisie capitalists and the proletariat working class.
Dialectic MaterialismMarx's philosophical method combining Hegelian dialectics with materialism, asserting that material conditions and economic production—rather than abstract ideas—determine historical development and social structures.
CapitalismAn economic and political system in which private interests and capitalist owners control productive resources, labor, and market exchanges for the purpose of maximizing private profit.
Surplus ValueIn Marxist economic theory, the difference between the total exchange value created by workers through their labor and the actual wages paid to them by capitalists. Capitalists appropriate this surplus value to amass their wealth and power.
ImperialismAccording to Marxist theorists like Lenin and Hobson, the highest and final stage of advanced capitalism driven by overproduction and capital surplus, resulting in the aggressive acquisition of colonies and systematic exploitation of poor economies.
Neo-MarxismA modernized extension of Marxist thought that goes beyond simple infrastructure-superstructure interactions by incorporating sociology, psychology, and culture to analyze contemporary state power, underdevelopment, and core-periphery relations.
DependencyA condition whereby poor peripheral nations are structurally trapped in subordinate economic relationships with wealthy core nations through international capitalism, multinational corporations, and unequal trade.
HegemonyThe political, economic, or cultural predominance of one state or ruling group over others, providing systemic rules and public goods while maintaining a privileged position in international relations.
North-South DivisionThe structural economic inequality separating the wealthy, industrialized nations of the global North from the underdeveloped and developing nations of the global South.
AlienationThe psychological and social separation of workers from their productive activity, product, fellow human beings, and human potential under the capitalist system of wage labor.
InfrastructureThe economic base of society, consisting of the forces and relations of production, which Marx argued determines the political and ideological superstructure.
SuperstructureThe institutional, political, legal, and cultural apparatus of society (such as the state, media, and schools) shaped and influenced by the economic base.
False ConsciousnessA state of mind in which members of the proletariat misperceive their true position in society and fail to recognize the oppression and exploitation inherent in capitalist relations of production.
Cultural HegemonyA concept developed by Antonio Gramsci referring to the ruling class's ability to dominate social institutions and shape societal values, norms, and worldview so that the masses willingly consent to capitalist order.
Core-Periphery ThesisA structuralist economic thesis holding that wealthy core countries exploit poor peripheral countries, breaking international working-class solidarity to enrich metropolitan centers.
World-System TheoryImmanuel Wallerstein's macro-sociological framework dividing the global economy into core, semi-periphery, and periphery zones based on capital-intensive versus labor-intensive production.
Labor Theory of ValueThe classical economic principle adopted by Marx stating that the economic value of a commodity is determined by the total amount of socially necessary labor required to produce it.
ProletariatThe working class in a capitalist society who own no productive property and must survive by selling their labor force to the capitalist class.
BourgeoisieThe capitalist class who own the means of production, factories, and raw materials, and who hold economic and political dominance in bourgeois-democratic societies.
SocialismA historical phase of economic and social development following capitalism where the means of production are publicly or cooperatively owned and production is directed toward social use value rather than private profit.
Vertical Division of LaborAn unequal trade structure where less developed countries supply raw materials to advanced nations, fueling the growth of one economic pole while impoverishing the other.
Illicit MarketThe clandestine sector of economic activity that circumvents institutional rules through illegal goods, services, or unauthorized transactional methods like smuggling and drug trafficking.
Millennium Development Goals (MDGs)A set of eight international development targets adopted by the United Nations in 2000 aimed at eradicating extreme poverty, improving health, and achieving universal education.
New International Economic Order (NIEO)A set of proposals advanced by developing southern nations in 1974 seeking to restructure global trade, transfer technology, and cancel foreign debts to alleviate North-South disparities.
