The working class is globally the class of people who must sell their labour. That includes - to a rounding error - all software developers and that is completely uncontroversial.
That group is, in fact, traditionally considered largely working class (proletarian, more specifically the proletarian intelligentsia, though some in that group might be middle class, again, in the traditional class analysis, petit bourgeois sense.)
American popular usage defers from traditional economic role-based class analysis to be instead do income-based “class” terminology which instead of defining the middle class as the petit bourgeois who apply their own labor to their own capital in production (or otherwise have a relation to the economy which depends on both applying labor and ownership of the non-financial means of production) defines middle class as the segment around the median income, almost entirely within the traditional working class.
This is a product of a deliberate effort to redefine terminology to impair working class solidarity, not some kind of accident.
Whose tradition? Not the American working class. Despite the strong labor unions extent I think you'd be hard pressed to find marxists among them. We talk of middle and upper class precisely because we don't ascribe to the "traditional" framing of bourgeoisie v. proletariat, because running a business is actually work too, even if you own the capital. If you sit around and spend money all day we just call you an aristocrat.
It doesn't, because a lot of those people do not sell their labor. Doctors sell a practice, or can anyway. As time goes on fewer and fewer do - they're being pushed out of the capitalist class to the working class. Most now work a salary for a large employer, like you or me.
I guess it depends on whose tradition is under discussion. In the contemporary American usage, "working class" means the trades, or factory and service work. Few people would call a physician or lawyer "working class" even though they are paid for their time (and knowledge).
I wonder about your contemporaries. I imagine that most of them have a completely different definition to you, because you and doctors and lawyers are - to a rounding error - working class and everyone but you is aware of it.
As someone who used to be in the actual working class (plastic factory), it's not the same at all. Professional-Managerial Class (PMC) covers the autonomy and good treatment the working class can't have. Plus just talk to them.
Marxism is the most impactful ideology of the history of the 20th century and its vocabulary permeates all of political and economic analysis. Marxist analysis is not the same as communism.
Most professional economists IMHO would not agree that Marxism's vocabulary permeates their field.
Core economic concepts are things like elasticity of demand, market equilibrium, externality, market failure, network effect, opportunity cost and comparative advantage, and AFAIK Marx and his follower had essentially no role in explaining or introducing any of those.
Please list terms in this different terminology that are equivalents or analogs of the terms I listed, so that I can use Ctrl+F to find them in my PDF of volume one of the book.
Here's deepseek's answer. To Deepseek I add: Market failure is addressed even more in Lenin's "Imperialism: The Highest Stage of Capitalism" which addresses market and financial consolidation in the early 20th century (it's worse now). I would also add that Marx built off of and sometimes critiqued Adam Smith and Ricardo, it's not an entirely different branch of the intellectual tree.
Elasticity of Demand – Marx does not explicitly discuss elasticity, but he analyzes demand fluctuations in terms of "the social need" (gesellschaftliche Bedürfnis) and "effective demand" under capitalism (Capital, Vol. III). He notes how capitalist production responds to demand shifts, though not in the formalized neoclassical sense.
Market Equilibrium – Marx critiques the idea of equilibrium (a key concept in classical and neoclassical economics), instead emphasizing "anarchy of production" and "tendential laws" (e.g., the tendency of the rate of profit to fall). He sees markets as inherently unstable due to contradictions in capitalism (Capital, Vol. I & III).
Externality – While Marx doesn’t use this term, he discusses "social costs of production" (e.g., environmental degradation, worker exploitation) as inherent to capitalism’s drive for profit (Capital, Vol. I). His concept of "metabolic rift" (in Capital, Vol. III and his ecological writings) touches on unintended consequences akin to negative externalities.
Market Failure – Marx’s entire critique of capitalism can be seen as an analysis of systemic "failures," such as "crises of overproduction", "underconsumption", and "disproportionality" between sectors (Capital, Vol. II & III). He attributes these to contradictions in the capitalist mode of production rather than isolated market inefficiencies.
Network Effect – Marx does not discuss this directly, but his analysis of "general social labor" (the socially necessary labor time underpinning exchange) and the role of "commodity fetishism" (Capital, Vol. I) implies that value is socially determined in a way that could loosely parallel network effects (e.g., the more a commodity is exchanged, the more its value appears natural).
Opportunity Cost – Marx does not use this term (rooted in marginalist economics), but his labor theory of value centers on "socially necessary labor time", implying that the cost of producing one good is the labor diverted from other uses (Capital, Vol. I). His concept of "alternative employments of capital" in Capital, Vol. III also touches on trade-offs.
Comparative Advantage – Marx critiques David Ricardo’s theory of comparative advantage (e.g., in Theories of Surplus Value), arguing that international trade under capitalism exploits unequal exchange and reinforces imperialism. He focuses on "uneven development" and "super-exploitation" rather than mutual gains from trade.
Marx builds on Adam Smith and Ricardo among others and contributes an understanding of where money comes from and where profits come from among other things.
