The Economic Thought Of Karl Marx.....

         Karl Marx  is the one of the greatest economist thinker of the period of 18 century. Marx was influenced by his environment. The economic and political conditions of Germany mainly shaped his ideas. During his life time he had seen the economic development of three countries, Germany, France and England. He was also inspired by utilitarianism, socialism and and German radicalism.

    The Economic Idea of Marx

  Marx told many point about economic development which was centralised  on labour .Which is following.

1. Class struggle- Marx said that in the society there are two class one is master and other is slave. There are conflict between the master and slaves in ancient times, under feudalism there was the struggle between the lord and serf. Now under modern capitalism, the struggle is between the capitalists and workers. Due to this exploitation increases and after the natural resource come under society and it effect welfare gain the people.
2. Money- Marx in his theory of money mentioned three important function of money, namely, measure of value,standard of price and means of payment. Marks believed that total quantity of money during a given period was determined by two factors-(a) The sum of prices of  commodities in circulation and (b) The rapidity with which goods changed their forms.
3. Division of Labour- Marx explained in detail the concept of division of labour in manufacture and pointed out that how in manufacture, a commodity from being a product of an independent workman became a social product, which was the result of the co-operation of so many workers. The Marx distinguished between division of labour in manufacture and the division of labour in society or social division of labour. The division of labour in society was created by the sale and purchase of products of different kinds of industry. In the case of division of labour in manufacture, several workers sold their purchasing power to a single capitalist. So the means of production were dispersed among many producer. 
4. Theory of surplus value- According to him, surplus value is the difference between the selling price of the commodity and the actual wages paid to the labourer. Due to this capitalist always want to make surplus value and it determined the wage in the variable capital of production. Only variable capital determined the labourer wages.
5. Capital accumulation- According to Marx capital accumulation is total value of capitalist is the sum of constant value, variable value and surplus value                                                                                             Total value =C+V+S
6. The Rate of Profit- It is equal to the ratio product of profit plus capital and surplus value.

             Rate of profit = P*(c+v)/s.

     7. Reserve Army - Reserve army is the capital equipment it is for production .

          

             On this basis we easily  say  that time he give a great model and thought,

    Thank you......

India's policy about welfare since independence till 1991 economic reform's .....

   India is country of amicable person since origin. Indian know very well about the feeling of the people. Due to this culture was developed gradually and that time it is known as father of culture. so in this county subsidy take a vital role in society.
         When India become independence from the rule of British Indian people was very poor in all the section of society. That time India's Prime minister Pt Neharu launch a special economy system it's name "Mixed Economy". The main feature of this economy is participate both sector of economy i.e. Private and Public sector ..the motive of private sector is profit maximisation and public sector is social welfare maximisation. And it was the origin of welfare in India.
          After adopt of mixed economy Inida's government wight push on the side of socialist economy and make "Palling commission" a legal body ans make five year plan for continuously growth and social welfare. Indiana government always want to doing very well on that time to maintain  social a advantage.
  India time to time do some thing different for progress itself from different model of growth. Indian economy is developing so it fully based on agriculture and due to this lots of social welfare are not properly working on ground root. After Neharu ji the main responsibility of country on the shoulder of Indira Gandhi and she doing very well her duty. She give statement "poverty abolition" and she doing good in ground level.
    After her period Rajiv Gandhi her son doing responsibility of country and make lots of project for poor people and he also work upon decrease income inequality............
          Thank you..  

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