Marxism
n. a philosophical position and economic theory drawn directly or indirectly from the works of Karl Marx. Although there is much debate about the true nature of Marxism, there is general agreement that it emphasizes the role of economics (control of the means of production) in subtly determining other social institutions, the importance of labor as the foundation of all economies, the failings of capitalism as an economic system, and a utopian vision of social equality. Marxism has spawned, or been appropriated by, a number of social revolutionary and communitarian movements, including communism. See also class theory; dialectical materialism. —Marxist
adj., n.