http://en.wikipedia.org/wiki/Marxism
Marxism is a worldview and a method of societal analysis that focuses on class relations and societal conflict, that uses a materialist interpretation of historical development, and a dialectical view of social transformation. Marxist methodology uses economic and sociopolitical inquiry and applies that to the critique and analysis of the development of capitalism and the role of class struggle in systemic economic change
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Capitalism (according to Marxist theory) can no longer sustain the living standards of the population due to its need to compensate for falling rates of profit by driving down wages, cutting social benefits and pursuing military aggression. The socialist system would succeed capitalism as humanity's mode of production through workers' revolution. According to Marxism, especially arising from Crisis theory, Socialism is a historical necessity (but not an inevitability).[10]
In a socialist society private property in the means of production would be superseded by co-operative ownership. A socialist economy would not base production on the creation of private profits, but on the criteria of satisfying human needs – that is, production would be carried out directly for use. As Engels observed: "Then the capitalist mode of appropriation in which the product enslaves first the producer, and then appropriator, is replaced by the mode of appropriation of the product that is based upon the nature of the modern means of production; upon the one hand, direct social appropriation, as means to the maintenance and extension of production on the other, direct individual appropriation, as means of subsistence and of enjoyment."
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