This paper discusses important questions in connection of Karl Marx's theory of socialism, which is popularly known as Marxism. Marxism is simply an improved version of old communism and socialism and many are of the view that it is still not dead. This is because Marxism it is believed is being practiced in International Relations to a certain extent and also experts are of the view that if capitalism fails, there is strong chance that Marxist may replace it. 10 pgs, bibliography lists 10 sources.