What economic theory emerged as a response to capitalism in the late 19th century?

Marxism emerged in the late 19th century as a critical response to the inequalities and exploitative nature of capitalism. Developed by Karl Marx and Friedrich Engels, this theory posits that the capitalist system inherently creates class struggles between the bourgeoisie, who own the means of production, and the proletariat, who are the working class. Marxism advocates for the idea that this struggle would ultimately lead to the overthrow of capitalism and the establishment of a classless society where the means of production are communally owned.

The rise of industrialization and the glaring disparities in wealth and working conditions during this period highlighted the flaws in capitalist societies, particularly the exploitation of workers. Marxism aimed to address these issues by proposing a revolutionary change rather than simply reforming capitalism. It emphasizes collective action and the need for a proletarian revolution to dismantle the existing capitalist structures that perpetuate inequality.

The other choices represent different ideologies or movements that, while contemporaneous or historically relevant, do not directly respond to the economic conditions and critiques of capitalism in the same foundational way that Marxism does.