Which economist is known for his critique of capitalism and the idea of class struggle?

Study for the GACE Middle Grades Social Science Test. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

The economist recognized for his critique of capitalism and the concept of class struggle is Karl Marx. Marx's works, particularly "The Communist Manifesto" and "Das Kapital," delve deeply into the conflicts inherent in capitalist systems. He argued that capitalism leads to the exploitation of the working class (the proletariat) by the owning class (the bourgeoisie), highlighting the tensions and struggles that arise between these two groups. His analysis of class struggle has been influential in both economics and political theory, shaping various socialist and communist movements throughout history.

In contrast, Adam Smith is primarily known for laying the foundations of modern economics and advocating market economies in his work "The Wealth of Nations." John Maynard Keynes focused on macroeconomic theory and the role of government in economic intervention, particularly in the context of the Great Depression. Joseph Schumpeter is recognized for his theories on entrepreneurship and economic innovation, including the concept of "creative destruction." Each of these economists contributed significantly to their respective areas, but none engaged with capitalism and class struggle as fundamentally as Marx did.

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