This is a course paper I wrote for a class on Philosophy of Marx at University of Sussex summer school in 2012. Looking back now, this seem very basic, and could be more accurate in depicting some of the ideas from Marx, Gramsci etc... Oh well.. Marx’s political and economic theories have been a controversial topic since the early days. While most economists, and even sociologists might consider his theories out-dated, specially his prediction of a successful proletariat revolution, current socio-economic conditions has brought a new wave of enthusiasm in Marx’s works. Thus it is interesting to evaluate how his theories of capitalism and its demise stand today. One can possibly see parallels between what Marx identified as problems with capitalism and contemporary market crises that has penetrated deeply into the social sphere. However, the conditions capitalism created are only half of what is important today; the other half is how the society is reacting to these problems. Thus I w...