Austro-Marxism is a political and economic theory that emerged in the early 20th century, primarily in Austria. It combines elements of Marxism with a focus on the unique social and cultural conditions of the Austro-Hungarian Empire. Austro-Marxists sought to address the needs of diverse ethnic groups and advocated for a democratic and pluralistic approach to socialism. Key figures in Austro-Marxism include Otto Bauer and Karl Renner, who emphasized the importance of national self-determination and the role of the state in achieving socialist goals. They believed that socialism could be achieved through democratic means rather than revolution, promoting a gradual transformation of society.