Historical Background

Abstract

To Marx and his orthodox followers, profit became a symbol of the evil of the capitalist economic system and the ultimate source of egoism, social stratification, class conflict, unemployment, crises, colonialism and wars; but above all responsible for the systematic exploitation and immiseration of the toiling masses. As such it was regarded as bearing the seeds of destruction, bound to lead to the inevitable breakdown of the system of which it became the most distinguishing feature. In his vision of the ideal communist society — to be marked by the social ownership of the means of production, distribution based on the principle ‘from each according to his ability, to each according to his needs’ and the absence of market relations — Marx saw no place for profit as an economic category.¹