The theory of Communists may be summed up in the single sentence: Abolition of private property

The theory of Communists may be summed up in the single sentence: Abolition of private property

Karl Marx, a German philosopher, economist, and revolutionary socialist, is best known for his theory of communism. One of the central tenets of Marx's theory is the abolition of private property. This idea is encapsulated in the famous statement: "The theory of Communists may be summed up in the single sentence: Abolition of private property."

Marx believed that private property was the root cause of social inequality and exploitation. He argued that under capitalism, the means of production – such as factories, land, and machinery – were owned by a small minority of wealthy individuals, while the majority of people were forced to sell their labor in order to survive. This unequal distribution of property led to the exploitation of workers, who were paid less than the value of their labor, while the capitalists profited from their labor.