Explain economic philosophy as presented by karl marx

Marx’s economic theory would be to call it an endeavour to
explain the social economy. For Marx, there are no eternal economic laws, valid in every
epoch of human prehistory and history. Each mode of production has its own specific
economic laws, which lose their relevance once the general social framework has
fundamentally changed. For Marx likewise, there are no economic laws separate and apart
from specific relations between human beings, in the primary social relations of
production. All attempts to reduce economic problems to purely material, objective ones,
to relations between things, or between things and human beings, would be considered by
Marx as manifestations of mystification, of false consciousness, expressing itself
through the attempted relocation of human relations.

Marx’s
economic analysis is therefore characterised by a strong ground current of historical
relativism, with a strong recourse to the genetical and evolutionary method of thinking
 The formula ’genetic structuralism’ has also been used in relation to Marx’s general
approach to economic analysis. Be that as it may, one could state that Marx’s economic
theory is essentially geared to the discovery of specific ’laws of motion’ for
successive modes of production. While his theoretical effort has been mainly centred
around the discovery of these laws of motion for capitalist society, his work contains
indications of such laws - different ones, to be sure - for pre-capitalist and
post-capitalist social formations too.