The economic theory associated with Karl Marx is known as Marxism. This theory analyzes the impact of capitalism on labor and society, advocating for the working class's (proletariat’s) revolutionary potential to unite against capitalist oppression. Marx's critique of political economy focused on the concepts of class struggle, the exploitation of labor, and the idea that capitalism’s intrinsic inequalities would inevitably lead to its downfall, paving the way for socialism and ultimately communism. Marxism has significantly influenced political thought, economic systems, and social movements globally, challenging conventional capitalist paradigms.