The Marxian System is a socio-economic system based on the theories of Karl Marx, a 19th century German philosopher and economist. It is also known as Socialism, which is an economic system in which the means of production are owned by the public and operated for the benefit of all. This system is based on the idea that the working class should have control over the means of production and distribution of goods and services. The Marxian System is characterized by collective ownership of the means of production, central planning, and the elimination of private property. It is also characterized by the redistribution of wealth and the abolition of class distinctions.