who was karl Marx? what was his idea of socialism
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Karl Marx was a communist who introduced the concept of socialism. Karl Marx's Theory: He felt that the industrial society belonged to the capitalists. Capitalists owned the capital invested in industries, but the profit was produced by workers.
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Marx predicted that the development of capitalism would lead inexorably to the concentration of capital, an immense accumulation of wealth on the one hand and an equal accumulation of poverty, misery and unbearable toil at the other end of the social spectrum.
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