Karl Marx is one of the most influential people both historically and in the present. His thinking process benefited the entire population. Marx wrote numerous works aimed at bettering the society and achieving equality. The Communist Manifesto is the most meaningful movement he has started and its main goal was to achieve equality of the entire population. This paper contains a detailed analysis of Marx's biography, the works he had spent many years developing, his contribution to the field of economics, as well as a review of the gap between the wealthy and the poor in the modern world. Marx's contribution is very significant for the present and the future. Communism, socialism and capitalism, the three historical periods in which Marx acted, are analyzed. Karl Marx has given great attention to the working class and population. They were the main cause for his work, which led him to developing the concept of alienation in which he claimed that a worker is alienated from his work, as well as himself and the products he is producing because he is unable to find satisfaction within the workplace. Marx considered the labor theory of value, labor and capital to be key factors in performing work. Numerous scientists are expanding and complementing his theories, so that they could be applied to a wide spectrum of possibilities. Finally, it is desireable to be familiar with Marx's ideas even though they were thought up in the distant past because most of those ideas are still applicable today. Additionally, his ideas are used in various areas and their wide spread is a major advantage. Marx's ways of thinking are also useful and applicable in personal life.