Marxian Economics Theory

Marxian Economics is a school of economic thought determined by of the work of Karl Marx. Marxian economics focuses on the role of labor inside the development of an economy, and is important of the classical approach to wages and productivity produced by Adam Smith. Marxian economics argues how the specialization of the work force, coupled with an overgrowing population, pushes wages down, and how the value placed upon goods and services won’t accurately account for that true cost involving labor.